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UK home demand dropped for properties over £500,000 due to affordability and uncertainty, but sales are rising overall.
Demand for UK homes over £500,000 has declined in recent weeks, with buyer inquiries down 4% and new listings falling 7% compared to last year, according to Zoopla's analysis of data through September 21.
Homes over £1 million saw a sharper drop, with demand falling 11% and listings down 9%, driven by pre-Budget uncertainty, affordability challenges, and higher stamp duty in southern and eastern regions.
While price growth stagnated or declined in areas like London and the South East, more affordable regions saw stronger gains—2.8% annually in areas under £200,000—with price inflation ranging from under 0.5% in some southern areas to 7.9% in Northern Ireland.
Despite hesitation at the top end, overall sales agreements are rising, supported by stable mortgage rates and improved buyer conditions, with experts expecting a strong spring market once fiscal policy is clarified.
La demanda de viviendas en el Reino Unido disminuyó para propiedades por encima de £500,000 debido a la asequibilidad y la incertidumbre, pero las ventas están aumentando en general.