One of the nation’s leading estate agent has recently made notice of the continued subdued housing market and is making changes to help weather the storm. The firm is seeing longer transaction times and in effect is expecting lower profits for the year 2018. Many other estate agents are finding similar conditions as lower house sales are dominating the landscape in many parts of the country. According to a well-known index, house prices fell 0.2% between the months of April and May. A shortage remains present as many estate agents are seeing few properties currently being added to new listings.

As house price growth is running along at quite a slow pace, many estate agents are resorting to incentives to help bring in more clients. One nationally known mortgage lending firm is even offering gifts for those who decide to obtain lending from them. This is creating even more competition and benefits all those seeking lending or remortgage.

Housing experts are forecasting more of the same activity for the last half of 2018. Growth in house prices was expected to reach only 2-3% according to estimates made during the first few months of the year. This is due to a few factors.

Brexit negotiations is making the decision making process difficult for those seeking property or are looking to sell. Uncertainty is currently holding many back from proceeding with any decision which could be affected as the UK exits the EU sometime next year. This uncertainty is placing a hold on the market and growth currently is difficult to find.