Executive summary 2.6x How much longer to sell a home if the asking price is cut by 5% or more • House prices are 1.4% higher over the first 7 months of 2024 having fallen over the final half of 2023 • All measures of activity are up year-on-year - the long-awaited base rate cut has not had a major impact on market activity so far • Price inflation has improved across all areas, remaining slightly negative in southern England but with London positive at 0.2% • 1 in 5 homes has had their asking price cut by 5% or more, an aboveaverage level showing continued price sensitivity amongst buyers • It takes 28 days to sell a home with no asking price reduction, but 73 days if you overprice and then need to reduce by 5% or more • House prices on track to be 2.5% higher over 2024 with 1.1m sales
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