MARKET: 70% of homes listed in 2023 have sold, latest figures show

Nearly seven out of 10 of all homes listed for sale this year have found buyers as prices remains 24% above pre-pandemic levels, latest analysis from TwentyCI reveals.

New Instructions stand at 587,605 with 374,280 sold subject to contract with some 197,245 completions in the last three months.

There were also 21,218 more homes sold subject to contract than in March (374,280 compared to 353,062). However, only 197,245 properties have been exchanged, compared to 232,068 in March.

The South East continues to dominate with the most new instructions. With 95,463 new properties coming onto the market in this region, this is also the highest number so far this year.

Comparatively, Northern Ireland still has the least number of new instructions, although April has been a stronger month for Northern Ireland, beating out new instruction numbers in January, February, and March of 2023.

Again, the South East is seeing the most activity with 60,702 properties sold subject to contract.”

Meanwhile the North West also saw a considerable amount of properties with 41,215, listed as sales agreed. A close runner-up, the East of England had 40,942 properties sold subject to contract in April.

In the three months to April 2023, there have been 197,245 contract completions across the UK.

Of the 197,245 completions, the South East was the highest performer although the number was down on March with 30,959 compared to 37,178.

There were also fewer completions in Northern Ireland compared to other months in 2023 so far.

Nick McConnell, Commercial Director at TwentyCi, says: “The property market has demonstrated a robust performance against significant and determined headwinds.

“Significantly, nearly 70% of all properties listed have sold so far in 2023, in an environment where prices are still 24% above pre-pandemic levels.”