With economic and political uncertainty continuing in the UK at the moment, a lot of buyers and sellers are holding back from reacting until they get a clearer picture of how the housing market will fare. Generally, house prices have experienced the lowest growth in the last 7 years of late, however regionally the story is slightly less clear-cut.
In the North-West, East and West Midlands, house prices are actually increasing. This is in contrast to the South, South-East and Greater London, where house prices are struggling to maintain any growth. There are some exceptions to this, but generally speaking the rates of growth in the North compared to the South have created somewhat of a North/South divide within the housing market.
Due to this divide and slowdown in house price growth, houses have become more affordable, particularly in the north, and the mortgage market remains favourable for buyers. First-time buyers, in particular, are seeing more opportunities within the housing market right now.
If you’ve had a house on the market for a while, have experienced a chain break or just want a quick sale of your property then we can help. All legal fees are included and we can complete in a timescale to suit you. Get in touch today to find out more.