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The price of houses in the UK saw an astronomical rise over the last few years, but for the last year or so, we have experienced a cooling off period in terms of house price inflation. Many prophets of doom were predicting a house price crash, last seen in the eighties, but the housing market has remained stable.
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expatriate, uk, property
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The price of houses in the UK saw an astronomical rise over the last few years, but for the last year or so, we have experienced a cooling off period in terms of house price inflation. Many prophets of doom were predicting a house price crash, last seen in the eighties, but the housing market has remained stable.
Although house sales are reportedly slow, the seems to be a sense of optimism that house prices may be on the way up again. The average price for a property is getting out of reach of many first time buyers, which in turn affects the housing market. Without first time buyers, the housing market can stagnate. Although this has been the case for some time in the UK, there seems to be no let up in house price inflation.
Many people are looking at buying properties as an investment, but many have been put off by the stagnant market of late. Lots of buyers are waiting in the wings hoping for a price reversal to get onto the property ladder. If the housing market does take a turn for the better in terms of inflation, those buyers who have been waiting for lower prices, may have decided to make the wrong choice.
Property prices in the South East and London are an indication of how the housing market is fairing, but many other regions have seen vast inflation of house prices, including newcastle and Leeds.
If you are looking at venturing into the UK property market, we recommend you take professional advice before buying. Who knows when is the best time to buy? Certainly it was looking that way recently, but with the latest forecasts, it’s anyone’s guess!