Share of high street vs online estate agent transactions in the UK Q2 2022

As of the second quarter of 2022, online agents had a market share of 7.4 percent of exchanges in the United Kingdom. Yorkshire and The Humber had the higher share of online purchases at almost 12 percent. Unlike other industries, the housing market has a relatively small online penetration rate as the overall cost and grandiosity of buying a home still encourages people into physical stores.

Average house prices

Average house prices are affected by several factors. Economic growth, unemployment, interest rates and mortgage availability can all drive them up or down. A shortage of supply means that the need for housing and the competitive market created will push house prices up. An excess of housing, on the other hand, means prices fall to stimulate buyers.

House price growth slowing down

After two years of a staggering house price growth, the UK housing market has started cooling down and in June 2022, the annual house price growth fell below eight percent - the lowest since July 2021. In the five-year period until 2026, London is forecast to see the slowest house price growth.