The UK property market appears to be rebounding a year after the "growth plan" announcement led to a slump in buyer and seller activity. In September 2022, the number of homes listed for sale in London dropped significantly, hitting 89,279 in March 2023.
However, last month, listings rose to 101,457, slightly surpassing the September 2022 level. Sales volumes have also started to recover, with prices increasing by 2.6% to an average of £534,265 between March and July. Mortgage rates have been gradually decreasing, with the Bank of England expected to keep rates steady at 5.25% next week.