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The UK Housing Market in 2018 What to Expect?

The UK Housing Market in 2018 What to Expect?

Published on 2nd February 2018

The UK Housing Market in 2018 What to Expect?

Do you have a property to sell in the UK?

2017 wasn’t exactly a great year for the UK housing market. First, there was the uncertainty caused by Brexit. Then the Conservatives did much worse than expected in the General Election, leading to an environment of political instability in the country. The economic growth has been tepid as well.

That’s why it is all the more important to hire the right online estate agents to sell your house in the UK. You should consider signing up for our Premium Sales option that costs £299 or the standard sales package that costs only £99.

This will give you access to list your property on all the major property portals in the UK and our property expert will guide you and help you sell your house fast. Apart from the help you get from our agents, you will be able to access our platform to communicate with the buyer in a safe and private manner.

Now, let’s talk about what to expect from the UK housing market in 2018.

Most analysts say that the UK will have a “two tier” property market in 2018. This means, the lower end of the housing market, or the average residential property, will have a completely different valuation compared to the higher end of the housing market, represented by the luxury properties in affluent areas.

We expect new builds in the lower to middle housing market to rise in value by 3% though 2018. Resale properties will increase in value by only 2%. Remember, this is the national average – experts have predicted a fall in property prices in London and other affluent areas of at least 1% in 2018.

This is what we mean by a two tier housing market. Home prices in the South of England and London have been substantially higher than those in the rest of the UK. But in the post-Brexit environment, the affluent areas are under a lot of pressure and we expect home prices here to come down a bit – but not quite by a significant extent.

It is hoped that 2018 will be an improvement over 2017. In 2017, the average increase in property prices was only 1.2%, so anything beyond that will be an improvement.

Surprisingly, the North of England has done very well in 2017, and we expect the demand for homes here to remain buoyant in 2018 and beyond. This is where all the action is in the UK housing market right now.

So is this the right time to sell your house?

Yes, this is probably the right time to hire the best online estate agents and sell your house since things won’t get much better in 2018 and in the near future.

While no one can really predict the future, as long you hire the right estate agents you should be able to get a good price for your property.

 

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