The number of sales agreed are 17 per cent below this time last year and Rightmove analysts say this is due to sellers who are struggling to adjust their price expectations to match current activity levels.
” Ben adds: “It’s been a bit of a rollercoaster market this year but certainly right now confidence is returning and we are heading back to more normal, cyclical patterns. If sellers price right, there are buyers out there for them.” Average fixed mortgage rates, which have fallen slightly, have helped the market. The average two-year fixed rate is now below six per cent for the first time since June and the average five-year fixed rate has dropped from 6.08 per cent 11 weeks ago to 5.
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