Keeping up with the UK housing crisis can be tough, but Greycoat Real Estate has had its eyes on the problem from the start. When the pandemic ended prices for homes and rent shot up as people moved back into urban areas which increased demand.
However, these sky-high prices led to demand slowing to a trickle by the end of 2023 and it became a buyer’s market. This lasted well into January of 2024 and now it seems the sellers have the upper hand once again. And this is when Greycoat specialists come in.
Sales and Prices are Up
February has seen some major changes to the still volatile UK housing market. Both sales and prices are going up thanks to renewed demand. However, a lot of this can be attributed to people working together to split the cost of housing and rent. Even so, Greycoat assures, this spike in demand is expected to not only continue but to explode in early March.
Achieving Balance
One thing of note is that even as sellers begin to have more leverage, the balance between supply and demand is leveling out somewhat. This means that while there will continue to be more sales at higher prices, buyers also have more options to consider. This will allow those who have less to spend to find housing that suits them, notes Greycoat Real Estate.
As this plays out, more sellers are coming into the market and more homes will continue to be sold. Sales are also being made much more quickly as buyers can find options that cater to their needs. Overall, Greycoat finally informs, things are looking a lot better for the UK housing market this year than in previous years.