Houses Taking Longer to Sell
The average time that a property is on the market has increased to 9.3 weeks, the highest level for a year. This is up from 8.7 weeks in July. The increase in time is down to the increase in supply of property by 16%, and demand falling by 1.6%.Demand for property was down by 2.9% in September, the 3rd month in a row that demand has fallen. The number of registered buyers has also fallen in September by 6.5%. Demand in London and the South East has seen the biggest drop, at 10%.
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