This is a Britain news story, published by Telegraph.
For more Britain news, you can click here:
more Britain newsFor more real estate & housing news, you can click here:
more real estate & housing newsFor more news from Telegraph, you can click here:
more news from TelegraphOtherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like real estate & housing news, you might also like this article about
house prices. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest residential property market news, homes selling news, real estate & housing news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!
property marketTelegraph
•
67% Informative
In May , there were more properties on the market than in any May over the past eight years .
Now is not an easy time to be selling especially if your home costs seven figures.
The number of properties for sale in Britain with asking prices of more than 1 m is 23pc higher than January to mid-May last year .
Mortgage rates have edged up again in response to rising swap rates.
The pandemic race for space created a boom in property millionaires, especially in rural areas.
The number of homes valued at 1 m or more across Britain has since fallen back to an estimated 670,100 .
This is 8pc less than in 2023 , but still 28pc higher than in 2019 pre-pandemic.
For every 10 houses on the market in the South Hams at around 1m, only one is correctly priced.
Many are overpriced by as much as 10pc to 15pc , estate agents say.
Some owners of expensive properties in the Cotswolds that are struggling to sell are renting them out.
VR Score
73
Informative language
76
Neutral language
28
Article tone
formal
Language
English
Language complexity
42
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links