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Buyers Return to Housing Market

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The U.K. housing market saw an increase in new buyers for the first time since November 2016 last month, the Royal Institution of Chartered Surveyors. There are several signs that the housing market is starting to stabilize. Sales and new instructions started to pick up for the first time this year in June. A gauge of prices indicated stagnation after four months of declines. U.K. home values have been suffering since the Brexit referendum in 2016, with London being hit particularly hard. Still, low interest rates, record employment and a shortage of homes for sale have put a floor under prices and prevented a sharp downturn. Sales are expected to increase over the next 12 months, but the looming possibility of a no-deal Brexit is preventing realtors from becoming too optimistic.

Posted by MMB Finance Swindon on 11 July 2019