Property market slowdown worst at top of market, says Rightmove

The largest houses are taking the longest to find buyers as the property market slowdown continues, it has been revealed. Rightmove’s monthly house price index reveals that across the UK properties with five bedrooms and detached four-bedroom houses are taking 76 days to sell, while in London it’s 86 days. The average time to sell across the UK for all properties is 63 days, the portal says. Property market slowdown Rightmove believes the slowdown at the “top of the ladder” is helping soften the sales market overall. In London the number of sales agreed compared to same period a year ago is down by 9%, while southern counties have experienced a dip of 7.8%. The north has fared better, Rightmove says, with a dip of just 3%. But these are only year-on-year figures – better than expected sales across the UK earlier this year means sales so far this year are ahead of 2016. “Sales agreed numbers are holding up better in the north, whilst a common factor throughout the country is the lower and middle market sectors being the most active,” says Rightmove director Miles Shipside (pictured, left) “However, where property prices have far outstripped buyers’ wages, and consequently…

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