Property viewings decline 57% as buyer-seller pricing gap widens

The average number of property viewings has dropped significantly over the last two years, falling from nearly four per property to just 1.7, according to Propertymark’s August housing report. This 57% decline is attributed to ongoing affordability pressures and increased caution among buyers, though seasonal summer trends may also play a role.

A notable gap has emerged between buyer budgets and seller expectations, with 86% of estate agents reporting that properties are selling for less than their initial asking price. Nathan Emerson, Chief Executive of Propertymark, noted that while the market is functioning, momentum remains uneven due to this pricing divergence.

Industry experts suggest that sellers can no longer rely on market competition alone. Phil Spencer, Founder of Move iQ, emphasized that realistic pricing, presentation, and timing are critical as buyers scrutinize value more closely. Agents are increasingly tasked with managing client expectations through local market knowledge and negotiation.