Demand for houses exceeds supply in the UK
There is interesting news for everyone interested in house buying. Transactions might have plummeted. House prices, however, continue to rise. This observation comes from the Royal Institute of Chartered Surveyors (RICS). If the latest report by the organisation is to be believed, surveyors have seen a fall instead of a rise. That is how things looked till about last month. In addition, there was also a significant decline in the number of surveyors pinning their expectations on a rising sales in the next three months.
Another observation made by Rics was that there was a decline in the net balance of surveyors reporting a price hike. The percentage has fallen from 29 to 24, which still points at the fact that prices are a rise.
These contradictory trends have taken the market by a surprise. There is a lack of houses for sale, which can be blamed for the overall deceleration, observes the Daily Mail. To underline this slowdown, Rics also confirmed the diminishing number of properties as noted by the real estate agents. As of last month, the fact stays that demand has clearly overtaken supply. With factors like Brexit throwing cold waters on the share market, not to forget the stamp duty rise, the house prices are clearly backed by lack of supply.
As far as other parts of the country are concerned, prices continued to create pressure on various parts of the country. These parts include expensive part of the country like London as well as the not-so-expensive Wales and other areas. In fact, Daily Telegraph reported that London property market went up by 8.1 per cent. This clearly appears to contradict the slowdown in the real estate market but at the same time indicates an impressive growth in the time before Brexit was finalised and a sudden pause ever since.
No matter how unstable the real estate market looks right now, surveyors are optimistic about the prices.
As far as Liverpool property scene is concerned, it can be said that the investment market has definitely been sluggish with the new tax rules in place. There is less profit for the investors. At the same time, the lending criteria have become tougher which has led to very few buyers at property auctions.
Things are not as bleak as they seem in the first look. Renting property should be on a rise given that the property supply is restricted. Experts also feel that the real estate market is more inviting for a corporate consumer as compared to an individual buyer whose core interest is personal.
Having discussed the property scene in details, we at webuyanyhouseliverpool.com would like to help you sell your house fast or get in touch with a trustworthy property developed in Liverpool. We have been around for a lot of years now and during this tenure, we have had the opportunity to work with the most reliable and honest builders and developers in our area.
While you may have approached your share of developers and builders, allow us to emphasise on how it is going to be different if you do it with us. The key to a satisfying deal in property development is in details. That is why we encourage you to enlist every small detail that you have in your mind before going ahead. Many a time, it is the extra costs towards the end that change your budget to a good extent. With proper listing and intuitive planning, these costs can be cut down.
I want someone trustworthy to buy my house – that is on every house seller’s mind. We know it and we respect it. You would know it only when you get in touch with us.