Spring is traditionally the property market’s busiest season but analysis carried out for The Times shows there are now just over half as many buyers for every property for sale compared with a year ago.
Some have chalked this up to the cost of living crisis and rising mortgage rates, but James Moran, Head of London Sales argues that ‘buyers have lost confidence due to years of turbulence and the cash squeeze: “The seasonal highs and lows of property market activity have dissipated over recent years, due to a combination of contributing factors including Brexit and Covid as well as constant political upheaval — all of which upset the natural rhythm of peaks and troughs that we had become accustomed to. As a consequence, spring is no longer necessarily the selling season it once was.”’
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