Sometimes markets all around the world behave predictably and it is easy to see where they’re going based on what has already happened. However, the UK housing crisis has created such volatile market conditions that many struggle to predict what will happen next. Even so, commercial realty experts at Greycoat Real Estate have a good idea of what is going on and why. They’ve seen that both home prices are going up but so are sales. This could hold interesting consequences for the UK housing market.
Something to consider is that this past week saw some pretty hefty jumps from previous weeks concerning the UK housing market. Listings are 17% higher than this year’s average while net sales are 31.4% higher than those of the weekly average in 2023. Even more incredible is the fact that Greycoat Real Estate real estate expects this trend to continue and the real estate market to “explode” in early March.
A Robust Market
From the seller’s side of things, the market is looking pretty good right now. Late last year and early 2024 saw the market transition into a buyer’s market with buyers having much more leverage than usual. This led to sellers having to cave into demands for discounts to make sales.
However, the ball seems to be in their hands now as both prices and sales continue to increase. Also, the mortgage rates. Going forward, Greycoat Real Estate expects sellers to become more aggressive in their sales tactics. Since sellers only got paid in 52.8% of the homes they attempted to sell last year, this could be their opportunity to bounce back.