Homebuyers are becoming more cash conscious, with the gap between asking and selling prices widening, say experts. Buyers are now typically agreeing sales at 3.6 per cent below the asking price as mortgage rates head upwards. Over the summer, buyers were more confident as rates fell, agreeing sales that were, on average, 3.2 per cent below the asking price, Zoopla said.
Despite heightened price sensitivity, volume of agreed sales was 30 per cent higher than a year ago – with the prospect of a bumper first half of 2025. Homebuyers are agreeing at sales over three per cent lower than the asking price as mortgage rates head upwards (file photo).
Zoopla's Richard Donnell said: 'Homebuyers have become more price sensitive in recent weeks as mortgage rates drift higher.'. He added: 'Affordability constraints will keep the pace of price growth in check over 2025 but there will be enough price inflation to support 5 per cent more home moves.'.
