Greycoat Real Estate Reports Shows UK Property Market Resilience With Surging Sales Amidst Growing Demand
Greycoat Real Estate Reports Shows UK Property Market Resilience With Surging Sales Amidst Growing Demand
Property sales agreements have increased by 15% in the UK, while demand has risen by 11% year-on-year. This is encouraging momentum for the housing industry and sellers who are hesitant to sell their homes. The latest figures by Greycoat Real Estate show London and the North East spearheaded the new rise in buyer demand.
On the other hand, homes listed for sale have increased by 21% compared to last year. Additional data shows estate agents are making six new sales agreements a month compared to 5.2 a year earlier. According to Greycoat, this is a sign of vendors growing confidence in the market’s stability.
Though the rates are still high, the Monetary Policy Committee has given people hope for a stable market. While the property purchase market is still volatile, recovery is accelerating at the right speed. Greycoat Real Estate believes though the market might be bumpy, the uptick in buyer demand is encouraging.
As the country waits for the spring budget, anticipation for favorable policies is high, Greycoat anticipates. Whether it introduces helpful measures or not, the property market is currently blooming.
Another notable improvement in the housing market is an increase in transactions. Despite this, Greycoat Real Estate believes the market will remain price-sensitive. Buyers will tend to go for properties that are priced accurately and leave the exaggerated ones. This is why most of them use trusted property advisors to get the best possible prices.