Though we have experienced a strong surge of sales and buyer enquiry over the years 21-22, the pendlum contiunes to swing back to buyers. Getting buyers to say 'yes' at the moment is harder than in the previous two years. Ambiguity, negative median dialouge, interest rate hicks and uncertainty on the world stage are all impacting buyers' confidence in the market. This has meant that sales transactions have been lower than previous years, and the median house price has dipped slightly, providing that we are giving back some of the gains made from Covid period.

Unit sales have decreased signigicantly though we have observed some higher values in our median price in this sapce. We have had increased stock levels of up to 50% on the same times as last year coupled with decreased buyer enquiry of up to 62%, returning to pre-covid levels, this is causing our days on market to blow out. 

Our rental market is drifting higher with stock levels and though we contuine to lease properties at record breaking rates, achieving impressive results for landlords we are seeing the level of applications drop, easing the rental demand for the first time in three years. Though there is a plausibility around more interest rate rises, media suggests that there will be a reprieve in 2024, so we hope to see more stability and confidence as we move into the second half of 2023.