What the real estate market in the UK expected in 2014?

Traditional decline in asking prices for property in the UK was observed in November 2013 – about 2.4% . But this is normal for the Christmas period. This less-than-traditional for this time of year – usually, in November the decline is about 3 percent. In the same year, considering the average price of a home £246237 , the decline amounted to an average of £6181.

The annual price increased by 4% and this figure is the highest since 2007.

The revival of the market is obvious. The amount offered for the sale of objects has increased by 30% since September 2012 and the forecast for 2014 is very good.

Speaking about the reasons for the decline in asking prices in November 2013, one of the reasons was that some of the sellers have determined to sell your house this year. But given that the majority of sellers probably have not put their homes and waiting for 2014, activity in 2014 is expected to be above normal.

In addition, banks, fearing more stable rumors about a bubble in the property market in the UK, have become more long-term to consider applications for mortgages and more carefully evaluate the risks. For example, real estate agents provide such statistics, one of the largest banks – loans approved only 169 loans 1075 filed appeals.

Is very high and the processing time of applications. And this, in turn, creates uncertainty and instability in the property market.

Meanwhile, there is a category of people who are willing to put their property for sale to reduce your regular costs and to obtain the necessary current needs amount. That is, people are going to reduce their homes in order to reduce costs. Some of these people want to free up capital to create an increase in their pension. Many free resources to help your young children or grandchildren to buy a house or to pay for their studies. And some simply want to reduce their utility costs and energy costs. In terms of the hard economic climate people have a better insight into the economy.

Thus, real estate agents in the UK expect 2014 will be more stable. The market will be even more offers and the demand from buyers is expected to be more stable, which will benefit the recovery of the economic situation in General.

®Helen Entree. 18.11.2013 G.

Price indices for UK property

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