ad

Why are UK property sellers not reducing their price?

L

lookinginvest

Member
This is one of the phenomenons of recent times, the fact that UK property sellers are not reducing the price even when approached by potential buyers. This would indicate future faith and strength in the UK property market even in these challenging times. However, is that really all that is behind this unexpected strength?

There are two other factors we need to take into consideration:-
  • Fewer properties for sale
  • Lower mortgage rates
It will be interesting to see how the UK property market reacts post-January 2021 when the £1000 furlough related payment per employee is released.
 
B

bracknelson

New Member
That's quite surprising for most of the experts, even the pandemic not able to derail UK house price growth.

Wealthier individuals have been moving towards cities for larger suburban homes with gardens in the anticipation that they won't need to commute into central offices as much even after the pandemic ends.

I think this topic need in-depth analysis
 
J

johnnyy

New Member
I haven't heard about it. I read that the housing market has been undersupplied for years. During the pandemic it may get worse. There were 1.5 million units for sale at the end of March, NAR said, down 10.2% from a year earlier. Homeowners are waiting to list their houses, real-estate agents say, because they have decided not to move or they are worried about letting buyers into their homes during a pandemic.
 
Top