Greycoat is one of the most reliable real estate agencies currently at practice. An article found in the property industry eye details the buyer/seller market in real estate as it relates to property auctions for the calendar year 2023 in the United Kingdom.
This past year was a difficult one for sellers with higher mortgage rates and economic uncertainty keeping many buyers out of the market. In general, property auctions were up in sales as more sellers turned to this means to move their properties. According to Greycoat, this was tied into a general decrease in the price of property which could be attributed to the factors listed above.
It is difficult to make solid assumptions from the sales prices of auctions. The types of property and their value varies from sales done the standard method of listings. In any event, this surge in auctions is a significant factor in the marketplace. And this is where Greycoat specialists come in.
Buyers are regaining their confidence in the real estate market as January 2024 moves forward. Mortgage rates appear to be coming down, and there is pent up demand for real estate. Greycoat finally explains how this month could well be one of the most active in recent times.
Any buyer or seller of commercial or residential real property would do well to consider contacting Greycoat Realty. Their vast experience plays well whether auctions are up or down. They also have insight into the movement of the market and how to take advantage of the latest trends.