Property market update: More people are on the move
Take a read of the average British newspaper and you’ll likely feel nothing but negative about the UK property market. From first-time buyers being unable to get their foot on the ladder, to concerned economists outlining what could be in store for homeowners come Brexit.
Let’s balance this out a little bit, because there’s been some surprising news in recent months…
The UK property market: Time to smile?
Remortgages rose by nearly one fifth year-on-year, according to UK Finance in May 2019 (that means those who already own homes are increasingly on the move to their next property). This is promising for the UK property market, which many have had concerns over when it comes to Brexit.
And the good news doesn’t end there, homeowner…
A recent Reuters poll of house market watchers found that an impressive 80% of those asked said that house prices have so far weathered the Brexit uncertainty.
Right now, experts don’t foresee a housing crash (which, arguably, might not be great for first-time buyers). If you’ve found yourself caught between a rock and a hard place as a first-time buyer, you should read our blog: Brick by brick – New homes on the increase.
So, where next?
It’s predicted that home values will rise by 1.2% nationally this year. This is below the level of inflation. However there are also positive predictions for upcoming years – 2.0% over 2020, and 2.5% in 2021.
Thinking of selling up?
With Brexit on the horizon, you may well be wondering whether or when to sell. First, you should know that property prices in the UK rose by 0.6% year-on-year in August (according to figures from Nationwide). But this same report also found that the average UK house cost £216,096, (£1,567 less than the figure a month previous), with some exceptions.
In London and the southeast of England, prices are falling, while the further out (and up north) you go, the stronger the growth.
With more people moving properties than in the past ten years, our moving pros have been busy. And in turn, our customers have been busy leaving us comments such as these…
“An excellent service. Great communication and friendly. Will be recommending to family and friends”.Chris Pottage
“Shiv and Simon were professional and efficient throughout. I would definitely recommend Van Man York, the service, from initial enquiries, booking through to completion of the removal job could not be faulted”.Lindsey Nicholson
You can hear from more happy past customers over on TrustPilot.
When you’re in their shoes, our team will happily help you move from A to B quickly and free from all the stress that usually goes along with moving. Find out more about our moving service here.