Today’s AGM update follows recent commentary from peers in highlighting the impact of market volatility on buyer confidence. There has been a significant slowdown in demand over the past six weeks, as evidenced by a reduction in reservation rates to 0.26 (prior year equivalent: 0.42) and an increase in cancellation rates to 41% (from 20% in the first ten weeks of the year). This period covers the eye of the storm of the mini-budget and it is therefore difficult to gauge the likely pace of recove ....
