TwentyCi: Housing market remains ‘remarkably resilient’

The property market remains ‘resilient’ with more listings and homes going under, according to the latest TwentyCi data.

It comes as figures from the property data company show a dip in the number of exchanges between June and July.

TwentyCi’s latest homemover pulse report showed there were 635,901 new instructions during July, a 27,947 increase on the month before.

The South East once again broke its record, reporting 104,368 new properties coming onto the market.

 The second region with the highest number of new instructions was the East of England, with 70,978 new listings. This was closely followed by inner London and the North West with 67,120 and 66,311 new listings respectively. 

As of the end of July, 426,008 properties across the UK have sales agreed, with the top five regions including the South East, East of England, South West, North West and the West Midlands.

In the three months to July 2023, 182,684 contract sales across the UK have been completed.

This suggest there were 3,929 fewer property sales completed in the three months to July compared with the three months to June, TwentyCi said.

The continued highest-performing region is the South East, with 26,668 property completions recorded. The next highest performer was the North West, with 20,184 completions.

Colin Bradshaw, chief executive of TwentyCi, said: “There has been no shortage of attention-grabbing headlines declaring doom for the housing market of late. The economic backdrop does remain a concern and all eyes should be on whether inflation slows and so interest rates stabilise. 

“But the signs are that the market is proving remarkably resilient”