Housing market starts to feel the chill
The guardian report on housing market starting to slow showing lowest figures since 2013.
It was an announcement homebuyers and sellers barely needed to be told – Britain’s property market is going through its flattest period in the last five years. A report from the Royal Institution of Chartered Surveyors (Rics) found that demand from buyers, and new instructions from sellers, were down again, the lowest figures since 2013.
Last month, research from estate agency chain Your Move found house prices in parts of London – once at the centre of the UK property boom – have fallen as much as 15% over the past year. At the end of 2017, Rics predicted that there would be a drop in prices in the capital and the south-east as the cautious mood of last year continues. “Brexit is having a marked effect on sales and prices, reducing both by up to 10%,” said one surveyor.
What now for the market
For those who want to sell their home, there are ways to improve their position.
The first step is to ensure that estate agents are doing their jobs properly, says Paula Higgins, chief executive of the campaign group HomeOwners Alliance. Simple moves to make the home more attractive to a buyer can make the difference, says David Blake from Which? mortgage advisers. “It makes sense to try and get your property into a condition where someone viewing it wants to buy it. That might mean investing a bit of money.”.....
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