Our Take on the State of the UK Property Market in 2017!

Our Take on the State of the UK Property Market in 2017!

Published on 5th January 2018

Our Take on the State of the UK Property Market in 2017!

2017 has been an interesting year for the UK property market. Things such as the political uncertainty, Brexit and slow economic growth haven’t helped much. Also, there is a real North-South divide in the property market in the UK – with the North catching up with the South this year.

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We have access to all the latest market information, which allows us to have a very specific take on the state of the UK housing market. Hiring the best online estate agents will give you an advantage even in an uncertain economy. We help you sell your house fast and at a good price. Just subscribe to any of our packages, which start at just £99.

Here’s what we think about the current state of the UK property market

The North/South Divide

Historically in the UK, there has always been a North/South divide. The housing market in the North-East of England, Scotland and Wales has always trailed that in South of England and London.

But this year, the situation has reversed. There has been a real upward trend in the housing market in Scotland, the North-East and Wales, while that in the rest of the UK has performed worse than usual. That’s not a bad thing as you need a better balance in the housing market, and the South has outperformed for years.

Decline in the Number of Buyer Enquiries

A poll conducted among surveyors in the UK reported a fall in the number of buyer enquiries.

But there was again a North/South divide in this. Surveyors in the North have reported an increase in the number of buyer enquiries.

While properties in the North of England offer very good rental yields for the buy-to- let market, you can’t expect much capital appreciation from your properties there. The South of England offers excellent capital appreciation, but has slowed down a bit in 2017.

London Registers a Drop in Home Prices

London has always stood alone in the UK property market. Most foreign investors look to invest mheavily in homes and apartments in London, which drives up the prices for everyone.

This year, though, most surveyors have signalled a drop in buyer interest. Foreign buyers have not bought properties in London the same way as before, possibly because of concerns over the fallout of Brexit.

The political uncertainty over the fate of the Theresa May-led government has also cast a shadow over the London property market. Lot of observers feel that it is only a matter of time before the government falls under the weight of its own contradictions.

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