September 7, 2023

If you've been keeping an eye on the UK housing market lately, you might have noticed a concerning trend. The number of houses sold in the UK this year is on track to be the lowest since 2012, according to property website Zoopla. Around one million sales are set to be completed this year, with transactions almost a fifth lower than in 2022. What's causing this decline, and how is it connected to the cost of mortgages and rents? In this article, we'll delve into the factors affecting the UK housing market and what it means for buyers, sellers, and homeowners.