The number of new applicants registering per member branch and the number of viewings per branch has fallen slightly in October when compared with September, while the number of new properties put up for sale also dipped.

The number of new applicants registering per member branch and the number of viewings per branch has fallen slightly in October when compared with September, while the number of new properties put up for sale also dipped. In a month that saw average two-year fixed mortgage rates rise over six per cent as a result of Truss’ economic policies, demand pulled back.  It is unsurprising that the number of people looking to sell their property also fell during this period of uncertainty. With a new Prime Minister and Chancellor at the helm, along with statements form the Bank of England that base rates will not rise as high as expected during October, industry professionals are hopeful to see increased activity into November.  

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Source: Propertymark