Press & media coverage

Marc von Grundherr, Director of Benham and Reeves, says: “Today’s figures suggest that the market is moving in a positive direction. While affordability pressures remain a challenge, buyers have adapted to the current interest rate environment and remain committed to moving when the right property becomes available. Greater stability in mortgage pricing has also helped improve confidence, supporting healthy levels of demand and creating a solid foundation for continued market stability and transaction activity over the months ahead.”

"The reality is that our homes simply weren't designed to cope with the kind of temperatures we've experienced in recent summers,’ says Marc von Grundherr, director of Benham and Reeves.

Research by Benham and Reeves found that properties with built-in air conditioning remain exceptionally rare, making up just two per cent of homes currently listed for sale across England. That scarcity could work in homeowners' favour, with the estate agent estimating that installing air conditioning could increase a property's value by more than £20,000.

Research by Benham and Reeves found that properties with built-in air conditioning remain exceptionally rare, making up just two per cent of homes currently listed for sale across England. That scarcity could work in homeowners' favour, with the estate agent estimating that installing air conditioning could increase a property's value by more than £20,000.

“Installing built-in air conditioning to your home can prove to be a worthwhile investment, not only making your home considerably more comfortable during a heatwave, but also adding value should you decide to sell,” Marc von Grundherr, director of Benham and Reeves said.

Air conditioning can add more than £20,000 to the value of a home, but properties with built-in air con remain rare in the current market, according to research from Benham and Reeves.

Marc von Grundherr, director of Benham and Reeves, said: “Flat house prices aren’t enough to suggest the market is losing momentum. Housing has never moved in a straight line and short-term fluctuations are part and parcel of a healthy market. It’s the long-term trends that tell stories, and in this case annual house price growth has edged higher.”

Estate agents say the days of simply putting a property on the market and expecting a bidding war have disappeared. Marc von Grundherr, director at Benham and Reeves, said affordability had become "the defining force" in today's market.

Marc von Grundherr, Director of Benham and Reeves, says: “Affordability has become the defining force in today’s market and it’s no coincidence that London is feeling the greatest impact. Higher mortgage costs, coupled with already elevated purchase prices, mean buyers are taking longer to commit and becoming far more discerning."

Agents said the figures should be a wake-up call to sellers not to price their properties greedily. Marc von Grundherr, director of Benham and Reeves, said: “Sellers can no longer rely on yesterday’s pricing and timeline expectations. Those who price sensibly from the outset will continue to attract serious buyers, while those chasing last year’s values risk watching their property linger on the market.”