Increased interest in the real estate market in the UK is putting pressure on the market

The number of properties in the UK, which was sold at the asking price or even more expensive, has increased significantly since the beginning of 2014 in comparison with 2013.

Derived statistics for January 2014 shows that 32% of the real estate of the United Kingdom was sold at the original price, 12 % of the objects were sold more expensive than the asking price. These data contrast markedly with the September 2013 data, which show that in September 2013, 22% of properties were sold at asking price, and 7% more.

In addition, significantly reduced the number of properties offered for sale. The average was now about 8 potential buyers for each property on the market.

The number of new entrants into the housing market, January 2014 breaks all bad records since 2007, i.e. the lowest number of affordable housing recorded in January 2014.

However, the number of transactions in the market sales of real estate increased significantly, which clearly indicates the health of the market.

A great contribution to the recovery of the market brought the government program of assistance to families of people with a small income “Help to buy”, allowing you to pay only 5% of the cost of the housing in order to obtain the possibility of mortgage lending. In January, 4% of all real estate was sold on this program. In January 2013, the program “Help to buy” was used by 3 % of buyers.

Buyers have to trust the real estate market and the vast majority of buyers intend to solve their housing problems in 2014.

Against the background of increased demand and a declining number of newly supplied to the market of new objects, property prices in the UK are under significant pressure and buyers are feeling the competition, tend to offer the seller the asking price.

With increasing confidence in the property market, the competitive environment will continue to grow. Pressure on the market will boost prices and, if the quantity supplied to the market of new housing is up, then many buyers will simply be priced out of the market too high prices.

® Alice Morgan. 12.02.2014 G.

Property investment London

Battersea Reach

Canning Town

Beaufort Park