Property Vendors Placing Houses on UK Market at Alarming Rate
The end of the summer proved to be quite rough on the UK housing market, but the last few months are bucking the trend of the downward tone of the market overall. Mortgage listings have increased 14% year over year, according to The Little House Company. The number of vendors placing their properties on the market has also increased, according to a well-known entity connected to the housing community. By many measures this is being called a Christmas bounce for the market and one which has excellent timing.
Although remortgage activity is still struggling to reach anything which resembles levels seen in 2007 and 2008. That could be a possibility as the New Year starts out with some positive indicators leading the way.
Ian Perry, RICS housing spokesman, commented on the early seasonal shoppers, saying: "The number of potential buyers going out and viewing property saw a welcome boost last month. It seems that with Christmas around the corner, those who are in a position to buy decided to get out there and see what is available."
Perry continued discussing what is most needed within the market for success now, saying: "Overall activity is still very low in most parts of the country and what the market desperately needs is for this to translate into actual sales."
Properties are being placed on the market at a faster rate currently and that is leading many to believe vendors are becoming quite aware of what selling model currently works and using it to their advantage.