Price sensitivity and greater buyer choice are increasingly shaping housing market conditions but agents are reporting significant differences in performance between regions, according to Propertymark.
The professional body says agents are seeing a more fragmented market as economic uncertainty and affordability pressures influence buyer and renter behaviour.
In North Oxfordshire and the North Cotswolds, buyers remain active but are increasingly selective, while correctly priced homes continue to attract interest.
Propertymark members are reporting a similar trend in East Anglia, where stronger levels of available stock mean buyers are increasingly unwilling to pay above what they consider fair value.
PRICING BECOMES CRITICAL
Sarka Wilde, owner and manager of Distinct Property Consultants and who sells properties across North Oxfordshire and the North Cotswolds, says homes that are well presented, in desirable locations and priced correctly are continuing to sell.
She says: “Properties which come to market at an ambitious price are finding conditions considerably more difficult.”
Wilde adds that the market below around £500,000 remains comparatively resilient, particularly for family homes and properties appealing to first-time buyers and existing homeowners with equity.
Ian Harris, NAEA Propertymark President, reports similar conditions in East Anglia, where correctly priced properties can still attract multiple interested buyers while even modestly overpriced homes struggle.
NORTH-SOUTH DIFFERENCES
The picture is more optimistic in parts of the North West, where relative affordability continues to support demand.
Stuart Matthews, Managing Director at Miller North West and who sells properties around Bolton, says lower property prices, employment opportunities and investment in infrastructure are helping the region remain attractive to buyers.
Meanwhile, letting agents are continuing to see the impact of the Renters’ Rights Act, with Propertymark members reporting changes in landlord behaviour and rental supply.
Kim Lidbury, ARLA Propertymark President and Group Director, Property Management, at LRG, says market appraisals are down year-on-year and fewer properties are being relet in the capital.
Matthews adds: “For buyers and sellers in the North West, the current market provides some genuine reasons for optimism.
“While London remains one of the world’s most important property markets, the latest figures suggest that the traditional assumption that the South will always outperform the North is becoming increasingly difficult to sustain.”
