The latest reports on the real estate
market in the UK suggest that the industry is about to see a price surge
around autumn. Contrary to popular belief that UK real estate prices
were in general gradual incline, studies have shown that there was
actually a slowdown throughout the most part of the year - with the
trend changing around the autumn.
Real estate in the UK
The increase in search activity with
regards to the UK real estate market shows that sellers have yet to
respond to the sudden increase in interest. Market experts believe that
this is the result of people still being very unsure about investing in
real estate in what is a very volatile market even right now. However,
sellers that really want to get rid of their properties are being seen
to aggressively market their property even now as they are not willing
to wait till the autumn.
Timing, as always is an essential part
of ensuring that you get top dollar for your property. However, various
other personal circumstances will usually play a pivotal role in the
entire deal. Heavy marketing is essential to get people interested in
your property. At the end of the day, there are buyers that have the
money to push a deal through, your job is to ensure that the property
appeals to them enough for them to sign on the dotted line.
Summer slow down and what it means
While there is usually a downturn in
property sales during the summer, 2013 has proved to be a bit different
with market surveys showing a surprising 1.1% increase on the back of a
surprisingly improving market sentiment. The same reports show that
house prices grew up by around 0.4% last year while prices in London as
well as the South Eastern parts of the country grew by 0.9% and 0.5%,
respectively.
Last years (2012) summer downturn was
experienced heavily on the outskirts of London, with the property in the
heart of the city not registering as many numbers as it does through
the rest of the year. However, sale prices had not fallen too much, as
sellers would usually hold onto their houses until the trends changed
rather than sell at a lower cost.
Future trends
Trends in the near future point towards a
much improving long-term health of the property industry. Some of the
biggest property brokers in the land have noticed that there seems to be
a lot more property coming off the market than there is coming on as
people are becoming increasingly open to spending the large amounts of
money on investing in property
than they were previously. The biggest increases in property values
happen to be in, unsurprisingly, the heart of London. The last six years
have seen a consistent downturn in people looking to purchase property,
but that has taken a sharp and credible turn this year with experts
saying that the new model of the way things work now appears to be
sustainable.
Also, the speed at which sales are
taking place appear to have also been cut down with sales completing in a
stunning 8.1 weeks - which is the lowest turnaround time recorded since
November 2007.
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