The UK housing market is seeing a sharp decline in buyer activity, with the average number of viewings per property falling to just 1.7 in August. Propertymark’s latest housing report shows this is a significant drop from almost four viewings per home two years ago, representing a 57% decrease.
The organisation linked the decline to ongoing affordability challenges and buyers taking a more cautious approach. Seasonal trends during the summer months may also have played a part in reducing viewing numbers.
Growing Gap Between Buyers and Sellers
Propertymark’s findings also highlight a widening difference between what buyers can afford and the prices sellers hope to achieve. In August, 86% of estate agents reported that properties were selling below their asking prices.
Nathan Emerson, chief executive of Propertymark, said the market remained active, but progress was uneven. He identified the difference between buyers’ budgets and sellers’ expectations as a key challenge facing the industry.
These pressures are also influencing landlords’ decisions, with some reconsidering their plans to sell as market conditions remain difficult.
Realistic Pricing Becomes Essential
With fewer viewings and more negotiations taking place, estate agents need to provide clear advice and a realistic assessment of local market conditions. Emerson stressed that the quality of guidance is becoming increasingly important as sellers adjust to changing buyer expectations.
Phil Spencer, founder of Move iQ, also warned that sellers can no longer depend on competition between buyers to secure a strong offer. Property presentation, appropriate pricing and timing can all influence how successfully a home attracts interest.
Sellers who set a realistic asking price from the beginning may be better positioned to secure a sale than those who have to make several price reductions later.
The figures point to a more cautious market than in 2024, with buyers becoming increasingly selective about which properties they view. Fewer viewings suggest that sellers and agents may need to work harder to attract serious interest and ensure asking prices reflect current market conditions.
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