With more than 242,000 properties currently listed for sale across the UK, every region — except Central London — enjoyed a higher number of new instructions compared to last month, according to information and marketing services company TwentyCi.
In the three months to September, 303,852 contracts were completed across the UK, it said.
Its September 2022 Homemover Pulse snapshot of current activity showed the greatest increase came in Northern Ireland, with a rise of 17.53 percent.
TwentyCi said there were 242,164 residential properties currently for sale and 327,622 others with sales agreed (a key indicator of demand) across the UK alongside 303,852 completions in the past three months. Completions rose 4.34 per cent over the latest month. (The company said its data on agreed sales covers properties at the start of conveyancing and sold subject to contract (SSTC)).
A cooling market?
It is the third straight month in which the number of sales agreed have stayed the same or dipped, a sign the market may be cooling.
TwentyCi said Scotland was the only region with a rise in demand compared with August, with an increase of two per cent. Demand in Central London fell 6.89 per cent month on month.
The South East remained the busiest area with 54,547 sales agreed as the gap between sales agreed and completions shrank marginally.
According to the latest Halifax house price index, the average price for a UK home in the UK has risen to a record £294,260.
TwentyCi said: “Our data shows that transaction times are decreasing, which may be playing a part in the increased completion numbers. As average house prices continue to increase, buyers may also be eager to keep their transactions progressing as fast as possible to avoid costly fall-throughs and higher prices should they need to find an alternative property.”
