Foxtons remains confident about the property market despite sliding house price growth.
It comes as data from Rightmove revealed that asking prices of new listings have dropped 1.9% this month, the largest fall in August since 2018.
The portal has also reported that the number of sales being agreed is now 15% lower than the more normal 2019.
But Foxtons insists there is still life in the market.
Jean Jameson, chief sales officer at Foxtons, said: “While market sentiment remains challenging due to the change in interest rates, properties with more competitive pricing are still stimulating buyer demand and, for Foxtons, deals agreed in August are on par with 2022.
“Compared with 2019 - the last year unaffected by covid – applicant registrations are up 10% and listings are up 32%, which indicates that buying a London property remains an attractive option for many. This is helped by the fact that first time buyers continue to benefit from favourable Stamp Duty rates.”
Estate agency share prices had a mixed response to dire warnings...
National average house price growth bounced back in April after a...
House prices appear to have benefited from a Spring bounce but...
Average house prices fell by their largest level since October 2008...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
.jpg){kind=avatar}
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment