UK house sales: down 50%, year-on-year. UK house prices: up 1.8%, with London prices up 6.9%. SAR: "Please explain".
Not easy. Call it the upside of seller denial. In a down market, some homes will be sold even if nobody drops their asking price. Mix that in with the weird behavior of averages, and you can probably explain some of this. But I’m not sure if you can explain it all.