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Decline of Buyers Despite Risen Number of Homes Up For Sale

Decline of Buyers Despite Risen Number of Homes Up For Sale

Despite an 8.6% increase in the number of homes being put up for sale, the number of buyers within the property market have fallen. As a result of this, sellers have had to reduce their asking prices to encourage buyers to buy.

However, particular regional areas across the UK (Scotland and the West Midlands) have experienced busy sales activity and strong growth of house prices. Comparatively, London and the south-eastern parts of England have reported flat or the decline of property prices.

Interestingly, average asking prices in Scotland (£158,864) and the Midlands (£227,804) were four and three times less than the UK capital (£628,458).

From an investment standpoint, purchasing investment properties outside London and southern-eastern parts of England will help secure promising house price growth; particularly within areas of Scotland the West Midlands.

 

Source of information:

  1. https://www.theguardian.com/money/2018/jul/16/uk-house-price-slump-blamed-on-surge-in-sellers

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