Editor's note: This brief was summarised by The Property AI Team from a report by PropertyWire. Read the original article for full details.
Property Viewings Fall 57% as Buyer-Seller Price Gap Widens
The average number of viewings per property for sale has dropped to 1.7, down from nearly four two years ago, according to Propertymark's August housing report. The trade body attributed the 57% decline to affordability pressures and buyer caution, though seasonal factors associated with the summer period may also have contributed.
The figures point to a market where buyer engagement is more limited than in 2024, with potential purchasers conducting fewer visits before making decisions. According to the report, buyers are becoming more selective.
Pricing expectations diverge
The report found that 86% of estate agents reported properties achieving less than the asking price, highlighting a growing gap between buyer budgets and seller expectations.
Nathan Emerson, Chief Executive of Propertymark, said: "August's figures show a housing market that is functioning, but where momentum remains uneven. The key issue for the industry is not a lack of activity, but the gap between what buyers are prepared to pay and what sellers are willing to accept."
The findings come as landlords in some markets reconsider sale plans amid challenging conditions.
Implications for agents and sellers
Emerson emphasised that realistic pricing and local market knowledge have become increasingly important for agents managing client expectations. "With more properties requiring negotiation, this is a market where quality of advice matters more than ever," he said.
Phil Spencer, Founder of Move iQ, noted that sellers can no longer rely on market competition alone. "Presentation, pricing and choosing the right moment can make a real difference, particularly when buyers are scrutinising value more closely," he said.
Spencer added that sellers who price realistically from the outset are likely to be in a stronger position than those who make repeated reductions later.
The data suggests the market is operating with reduced buyer engagement compared to 2024 levels, with industry professionals calling for improved standards across the sector.
Source: PropertyWire