Sales volumes in the property market in the UK grow

Sales of property in the UK has reached its 16-month highs. The latest index from the Royal institution of Chartered surveyors published its report, in accordance with which the property market in the UK, after the spring lull, going through a period of activity and the number of transactions in the market increased for the fifth month in a row.

The market is hampered by a lack of supply of new housing , as well as the increasing complexity of mortgage lending terms. If the availability of mortgages has improved over the last years, the situation with the supply of new homes continues to be very heavy.

However, the number of transactions in the real estate market is growing in most regions in the North, in the East of England and Scotland. The only region where sales activity has fallen in the Middle East.

The fact that the growth of activity in the property market in the UK is increasing, and is confirmed by data from mortgage lenders. The number of approved loans in 2015 increased by 16% compared to 2014. On the back of improved mortgage lending and the increased demand for property in the UK, the only problem hindering the market is the slow construction, Limited supplies – a significant deterrent to market.

As a result of persistent imbalance of supply and demand, the national price for residential property in the UK will continue to grow until the end of 2015 and in 2016. In the rental market of residential property in the UK demand exceeds supply and the vast majority of chartered surveyors promise to increase rents by 3% on average over the next 12 months. Activity in the rental market and the market of sale of property is quite high, but the market has a cyclical nature and a prolonged lack of new items for sale can be a significant obstacle, preventing the appearance on the market of new sales from potential buyers who wish to move but have been unable to find a suitable housing.

® Helen Entree. G. 10.10.2015

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