Updated: Aug 24, 2022
High-value UK properties are still transacting at record levels with July sales up around 80pc vs 2019 levels.
Table: The Daily Telegraph
- However the lower end of the market has seen a >20pc fall in sales
- Mortgage finance is less prevalent at the top end (ie more cash buyers/less dependence on mortgage finance) AND higher living costs take up a smaller percentage of disposable income
- With unemployment likely to stay healthy (record vacancies and a diminished labour force for various reasons) we believe this cycle will see a more polarised property market
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