Foxtons remains confident about the property market despite sliding house price growth.
It comes as data from Rightmove revealed that asking prices of new listings have dropped 1.9% this month, the largest fall in August since 2018.
The portal has also reported that the number of sales being agreed is now 15% lower than the more normal 2019.
But Foxtons insists there is still life in the market.
Jean Jameson, chief sales officer at Foxtons, said: “While market sentiment remains challenging due to the change in interest rates, properties with more competitive pricing are still stimulating buyer demand and, for Foxtons, deals agreed in August are on par with 2022.
“Compared with 2019 - the last year unaffected by covid – applicant registrations are up 10% and listings are up 32%, which indicates that buying a London property remains an attractive option for many. This is helped by the fact that first time buyers continue to benefit from favourable Stamp Duty rates.”
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