Director of Benham and Reeves, Marc von Grundherr, commented:

“The pandemic property rollercoaster ride has certainly ground to a halt so far in 2023, but rather than the market coming off the rails, what we’re now seeing is house prices returning to pre-pandemic levels.”

Managing Director of Barrows and Forrester, James Forrester, commented:

“Many buyers and sellers remain in property market limbo at present and it’s become a bit of a waiting game on both sides. Buyers are waiting to see if mortgage rates level out in order to boost their purchasing power, while sellers are hoping that they will achieve a better price once the economic storm clouds have passed.”

Managing Director of House Buyer Bureau, Chris Hodgkinson, commented:

“We’re currently seeing the scenario that many predicted towards the backend of last year, whereby the market is at a bit of a standstill. House prices aren’t crashing by any means, but a drop in market activity has also caused them to stall.

For those who are looking to sell, a good price is still very achievable, it’s finding a buyer who is in a proceedable position that is the biggest challenge at present.”

Jason Ferrando, CEO of easyMoney commented:

“Inflation has finally started to subside and while we’re not out of the woods yet, this should bring an air of optimism to the nation’s homebuyers and sellers.

The market remains in good health all things considered and once mortgage rates start to fall this should rejuvenate buyer appetites, delivering a much needed boost of market activity which in turn will help cultivate property values once again.”