Residential property prices are continuing to fall, newly released figures show, but transactions are ahead of the long-term average due in part to a surge in the number of buy-to-let landlords selling up.
According to fresh data from Zoopla, landlords selling homes are adding to supply, accounting for 11% of properties for sale, as many property investors struggle to make a profit, amid higher mortgage rates and energy bills.
“Sellers shouldn’t get carried away by more positive data on the housing market and need to price their homes realistically if they are serious about moving home in 2023,” Richard Donnell, executive director at Zoopla said.