Britain's property market is creaking at the seams as sellers struggle to find buyers for all types of homes, ranging from the smallest one-bedroom flats to the biggest country mansions. The average time it takes to sell a property is at its highest since 2011 – at 75 days – figures from estate agent Hamptons reveal. The number of properties on the market is at an 11-year high, according to Rightmove. And the listings giant says the number of buyers enquiring is lower than it was a year ago.
It is officially the hardest time to sell your home in 15 years. Britain’s property market is creaking at the seams as sellers struggle to find buyers for all types of homes, ranging from the smallest one-bedroom flats to the biggest country mansions .
‘For Sale’ signs are being left up so long they are gathering moss, readers tell us. The average time it takes to sell a property is at its highest since 2011 – at 75 days – figures from estate agent Hamptons reveal. The number of properties on the market is at an 11-year high, according to Rightmove. And the listings giant says the number of buyers enquiring is lower than it was a year ago.
A combination of falling house prices, rising borrowing costs and ongoing political and economic uncertainties mean many buyers have put their plans on hold. More than two in five homes put on the market in the past three years did not sell, data from Zoopla has revealed. Homes of all sizes are sitting on the shelf, as homeowners struggle to climb the property ladder or downsize.
On the first rung of the ladder, more than a third of one-bedroom apartments are now selling for less than the owner paid for them, according to Land Registry data. The collapse in flat prices means many people who bought their apartments as a stepping stone on to the property ladder are now unable to afford a bigger home. Veronica Evans, 91, is struggling to sell.
She says: ‘It’s the first time in life I feel totally stuck’ And many buy-to-let or holiday let investors have been chased out of the market by increasing taxes and tighter regulations. Owning a second home, once a middle-class dream, has become a more expensive pursuit due to the doubling of council tax and a 5 per cent stamp duty surcharge. Veronica Evans thought she would be living near her family in Teddington, south-west London, by now.
But 14 months after listing her home for sale, she’s still stuck in Bournemouth. The 91-year-old former nutritionist put her three-bedroom house – a large chalet bungalow – on the market for £725,000 in March 2025. She has cut the price twice in the past year, by £75,000 in total, but to no avail. Veronica says: ‘I have two daughters, four granddaughters and a great-grandson.
It would be nice to be near them all but nobody seems prepared to buy my house.
‘It’s the first time in my life I feel totally stuck. I have bought and sold seven homes and I have never experienced anything like this market. People always say my house looks lovely. Yet, despite being in a popular, quiet location, near the sea and every amenity you might wish for, it has not sold.
’ At her stage of life, Veronica is in no mood to waste time.
‘I am very frustrated,’ she says. ‘I’m 91 and I could pop off at any time. ’ Veronica blames government red tape and taxation aimed at second home owners and landlords for her current predicament. She says: ‘A flood of houses have come on the market in my area, which hasn’t helped.
A lot of them are second homes. We have some of the highest council tax in the country and now with second homes being charged double, lots of people just want out. ’ Veronica put her three-bedroom house – a large chalet bungalow – on the market for £725,000 and has since cut the price three times, taking £75,000 off.
She says that continuing to cut the asking price is not an option, as she is relying on her sale to fund her next purchase.
‘The buyers’ market, which estate agents are calling it, unfortunately doesn’t make it a happy time to be a seller,’ she says. ‘If I were to sell for £600,000, I wouldn’t be able to afford the type of flat I want in Teddington. ’ Many are now having to wait months or years to move, putting plans, jobs and retirements on hold.
In a survey by Zoopla of 2,000 people who had listed their home with an estate agent in the past three years, 44 per cent said the property never sold. Of those, 34 per cent admitted in retrospect their asking price was ‘too high’
Britain's Property Market Sellers Struggle To Find Buyers One-Bedroom Flats Country Mansions Average Time To Sell A Property Number Of Properties On The Market Number Of Buyers Enquiring Falling House Prices Rising Borrowing Costs Ongoing Political And Economic Uncertainties Buy-To-Let Or Holiday Let Investors Second Home Owners Stamp Duty Surcharge Council Tax Property Ladder Downsizing Property Transactions Collapse Of Sales Homeowners Struggling To Climb The Property La Property Market Estate Agents Rightmove Zoopla Twentyci Property Analytics Firm Property Transactions Exchange Of Contracts Collapse Of Sales Property Market Estate Agents Rightmove Zoopla Twentyci Property Analytics Firm Property Transactions Exchange Of Contracts Collapse Of Sales
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Labour's maladministration imperils Britain: A dire warningThe news text offers a critical assessment of Labour's performance since the local election results, highlighting the significant issues and risks associated with their current state of disarray. The text urges for restraint in borrowing and the need to take a more prudent economic approach to avoid further decline.
Read more »
Britain cannot afford Andy Burnham becoming Prime Minister: Financial Markets Take FrightFinancial markets expressed alarm at the growing possibility of Andy Burnham ousting Keir Starmer as Prime Minister. With the pound tumbling and the cost of Government debts soaring, economists predict the pressure will continue throughout a likely Labour leadership contest. Business leaders expressed concerns over the economic and reputation damage and predicted the pressure will continue throughout a likely Labour leadership contest causing economic impact. The pound weakened against the US dollar and the euro due to the turmoil in Westminster causing upward pressure on yields.
Read more »
Hunter x Hunter Filler List: Every Episode Fans Can SkipHunter x Hunter 2011 and 1999 filler guide.
Read more »
2011 NBA Champion Details Mavericks' Perfect Game Plan Against Heat, LeBron JamesThe Mavericks played mind games with LeBron James in 2011.
Read more »