Is UK a buyer’s market?
According to the data released by Winkworth on Wednesday; Despite political and economic uncertainties, buyers continue to be interested in the London real estate market.
The country has been experiencing an economic fluctuation since the day the UK left the European Union. However, according to the reports, despite this fluctuation, home buyers continue to prefer Britain.
UK brokerage, the fall of 2014 significantly reduced property prices reflect the more challenging market, he said.
According to Winkworth, the average price per square meter of houses sold dropped by 4 percent compared to the previous quarter. Real estate prices also declined compared to last year. Prices have fallen by 6.9% compared to the same period last year.
Despite all this, the demand for buyers in the UK has increased. The number of registered buyers seeking property to buy increased by percentage.
“We have every confidence that this year will see a return to positivity and now that the market is bottoming out, we expect activity to increase as the year goes on,” Dominic Agace, Winkworth CEO, said in the report. “Although we don’t expect any significant price increases this year, going into quarter two our offices have already experienced more optimism from buyers and sellers, particularly since the Brexit date was postponed and a ‘no deal’ is now less likely.”
“People are more eager now to get moving, and those who had been adopting a ‘wait-and-see approach’ are starting to move,” he said.
Sevdenur Demir / [email protected]