Properties sell faster as buyers’ minds ‘focused’ by rising interest rates – OnTheMarket
'It seems astonishing that despite macroeconomic headwinds, and predictions from many estate agents that property prices will fall next year, serious sellers and buyers alike remain keen to proceed,' says property portal OnTheMarket in its latest market sentiment survey.
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Higher mortgage rates are reducing home-buying power by "as much as 28%", warns property portal.
Asking prices continue to climb as some buyers pause while others rush deals through
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'Homeowners wanting to sell in 2023 will need to be realistic on price and may have to forgo some of the pandemic price gains to achieve a sale in 2023,' says Zoopla's research director, Richard Donnell.
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