Transactions fall as the property market calms

One in ten homes sold across the UK so far in 2022 were only marketed quietly, rather than being openly broadcast on the portals. That figure rises to nearly a quarter in London and prime country markets.

“A lack of homes for sale rather than a lack of desire from buyers is what is dictating the pace of the market,” says Rightmove, as the UK’s average asking price rises 2.1% in a month.

"Underlying fundamentals suggest house prices are reasonably priced at current levels," says Neal Hudson, but "the fundamentals may be about to change – potentially quite quickly."