Half of UK homes take longer to sell as buyers adopt ‘wait & see’ approach: Here’s why
Half of homes in Great Britain are taking longer to sell compared to last year due to mortgage market volatility and economic uncertainty. While the national average time to sell remains stable at 42 days, local markets are experiencing significant disparities.
Why it matters
The housing market slowdown reflects broader economic instability and the impact of fluctuating interest rates on consumer purchasing power.
Half of homes across Great Britain are taking longer to sell than a year ago as mortgage-market volatility and uncertainty over borrowing costs prompt buyers to adopt a “wait and see” approach, according to property platform Zoopla.Homes in 180 of 363 local authorities across England, Scotland and Wales are taking longer to sell compared with last year, the report found, as cited by The Guardian. The national average time to sell, however, remains unchanged at 42 days.The widening gap between local housing markets comes as volatility in mortgage rates continues to affect buyer sentiment.
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