UK Property Market Loses Momentum

The coming General Election has sparked a lot of uncertainty amongst buyers across the property market, according to figures by property portal Hometrack.

For the third consecutive month in a row, the number of property investments coming onto the market has outstripped demand from new buyers, with estate agents reporting only a 1% increase of new buyers and a 3.7% increase in properties for sale.

Speaking on their research, Hometrack revealed that property owners are taking longer to commit to properties in light of the changing housing policies being proposed by the government. As a result, the number of viewings needed per sale has risen exponentially.

Yet this is not the only area of the property market to be affected…

Asking prices too have fallen after a 13 month high to just 94%, whilst:

• The average time it takes to sell a property has plateau at 8.3 weeks
• Property prices have increased only 0.2%
• The number of agreed sales has dropped from 13% to 6.9%

In light of this growing shift between property demand and supply, it not surprising that property prices are feeling less pressure to rise. In the last 4 weeks only 19.4% of postcodes areas felt property price increases while the rest either plateau or fell.

Original Article

More About the Author

Fraser Stirling, Property Mentor Delegate

No matter what the media wants you to believe, property is still the only investment route where you can benefit from an asset that will NEVER go into zero value. Even when I was university I admired properties ability to withstand the economic elements and stay strong, even when other investment forms faltered or failed. X years on, I am now the proud owner of multiple property investments - one of which earns a passive income of £4,680 and my property portfolio is still expanding. Read more