The UK housing market is stable with the demand continuing to remain the same, according to the November 2017 RICS UK Residential Market Survey.
The survey participants revealed that the current housing picture and the short-term outlook for prices was broadly flat. Though prices are the same in London and South East, the growth was stronger in other regions, particularly, Wales, Northern Ireland and the North-West.
Looking forward, the three-month price expectations are also more or less flat at the national level. On the contrary, survey contributors are confident that prices will rise in the North West, Wales, Northern Ireland and Scotland during the three months ahead.
The UK housing market faced several challenges last year and is gradually returning to normalcy. Investments in housing are increasing in a phased manner. The number of new houses being registered are is also on the rise month-on-month.
However, declining housing stock could impact the house prices in the long-term. Being Christmas vacation, December could be a dull period for housing sales.
Nevertheless, the strong fundamentals of the London residential property market are prompting house buyers to explore investment options. If you are keen on acquiring a luxury apartment for owner-occupier purpose or buy-to-let, Strawberry Star could assist you. Contact our London office for more details.
The UK housing market remains flat at a headline level in the run up to Christmas