Buying a Property in the Current Housing Climate
UK Housing Market Reports Lowest Stock of Properties for 40 Years
The UK housing market is currently seeing a dip. With estate agents reporting the lowest stock of properties for nearly 40 years, the housing market appears to have stagnated. Experts have varying opinions as to why this may be, but some suggest Brexit and “political uncertainty” has had a role to play.
Over the past few months, the average number of homes on estate agent’s books is far lower than usual. New instructions in June fell for the 16th month in a row. People are seemingly keen to sell their home but are then left in limbo when there is nowhere for them to move into. Sellers are more able to sell because there is a high demand for houses. However, when it comes to them finding a home to buy, there’s an issue. The demand for houses is higher than the supply.
So, what can be done? The market is calming down, and political uncertainty and economic worries can start to be put to rest. The UK’s political future seems more certain after Brexit and the General Election, and the economy has seen a 0.3% growth in the past three months. Some hope this will kickstart the housing market again, and encourage people to buy and sell their properties without the fear of losing money, or not getting the asking price they’re looking for.
However, this won’t be a quick fix. With a consistent decline in the number of properties available on the market over the past year, it’s going to be a while before we get back to normal.
If you’re thinking about selling, or have sold your property and are looking for another, then please contact us today. We understand the frustration and stress that comes with not being able to find a property. We can help by targeting properties directly. We talk to owners of properties desirable to the people who have sold. This way, you can still keep your standards high and find your perfect property, without settling for second best because of the time restraints from selling your own home.
At Attik, we do the ground work and find these potential properties for you. Our expertise and experience help us find properties that will work for you, and are everything you are looking for. We can arrange one off viewings of properties that may not even be on the market yet.
Our aim is to kickstart the housing market and make it easier for buyers to find their dream properties, even in today’s climate. We will do this by turning inactive sellers into active sellers, and by supporting both buyer and seller every step of the way.