Regional contrasts
Beneath the national averages, the regional picture is far from uniform. The North West of England, Northern Ireland, and Scotland have emerged as relative bright spots. These regions have bucked the broader downward trend, with prices continuing to rise or, at worst, holding steady. In the North West, for example, surveyors report growth of 2-3%, supported by steady demand and a market less affected by the economic headwinds that have dampened sentiment elsewhere.
Northern Ireland and Scotland also stand out, with respondents noting ongoing strength in both demand and pricing. In Northern Ireland, new builds and properties in turnkey condition are attracting particular interest, while Scotland’s market remains buoyant, especially for well-located and realistically priced homes.
Concerns in the South and East
By contrast, East Anglia, the South East, and the South West of England are experiencing more pronounced weakness. East Anglia, in particular, has seen price declines outpacing the national average, with surveyors citing a glut of flats and a high number of landlords exiting the sector.
David Boyden, of Boydens Ltd, who is based in East Anglia, said: “Demand remains strong, deals coming through but not at the same rate due to holidays, time taken to reach exchange still remains ridiculously high and needs urgent attention by the government.”
The South East is described as “on life support”, with high interest rates and taxation contributing to a stagnant market. Here, both buyer and vendor confidence are fragile, and the market is highly price sensitive, with overvaluing by agents leading to limited viewings and extended selling times. The concern from brokers is clear.