December 2022, the housing market in the United Kingdom (UK) saw almost 50 percent fall in demand and 31 percent fall in the number of agreed sales versus the five year historical average. This was slightly lower than the period before the pandemic (December 2017-2019) compared with the five year historical average. One of the reasons for the the fall in demand for housing was the increase in mortgage rates in 2022 that is affecting the purchasing power of home buyers. As a result, house prices started decreasing in the second half of the year.
Percentage change in housing supply and demand in the United Kingdom (UK) as of December 2022, by characteristic
Characteristic
Nov/Dec 2017-19
Nov/Dec 2022
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Hometrack. (December 19, 2022). Percentage change in housing supply and demand in the United Kingdom (UK) as of December 2022, by characteristic [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/1247183/housing-demand-supply-change-united-kingdom-uk/
Hometrack. "Percentage change in housing supply and demand in the United Kingdom (UK) as of December 2022, by characteristic." Chart. December 19, 2022. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/1247183/housing-demand-supply-change-united-kingdom-uk/
Hometrack. (2022). Percentage change in housing supply and demand in the United Kingdom (UK) as of December 2022, by characteristic. Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/1247183/housing-demand-supply-change-united-kingdom-uk/
Hometrack. "Percentage Change in Housing Supply and Demand in The United Kingdom (Uk) as of December 2022, by Characteristic." Statista, Statista Inc., 19 Dec 2022, https://www.statista.com/statistics/1247183/housing-demand-supply-change-united-kingdom-uk/
Hometrack, Percentage change in housing supply and demand in the United Kingdom (UK) as of December 2022, by characteristic Statista, https://www.statista.com/statistics/1247183/housing-demand-supply-change-united-kingdom-uk/ (last visited July 03, 2024)
Percentage change in housing supply and demand in the United Kingdom (UK) as of December 2022, by characteristic [Graph], Hometrack, December 19, 2022. [Online]. Available: https://www.statista.com/statistics/1247183/housing-demand-supply-change-united-kingdom-uk/