The media would have us believe that the property market is nursing a New Year’s party hangover. Certainly the issues that influenced the market during 2018 remain, such as Brexit-related confusion, lack of supply and affordability problems for first time buyers. And whilst the media does love to scaremonger, they tend to ignore, the perhaps rather boring reality, that the UK property market is actually surprisingly resilient.
Tag Archives: housing market
This month’s market comment comes with a degree of optimism, but also with a gentle warning. But let’s get the bad news out of the way first… According to HMRC, UK residential property transaction volumes plummeted by 12.5% last month, down 2% on the year. This time last year, month-on-month sales were up 16.7% equating to 19.5% on the previous year. So this is a major adjustment. As ever though, government figures tend to be out of date before they are even published!