UK property market stumbles in winter and recovers in spring

UK property market stumbles in winter and recovers in spring

It goes without saying the the UK’s property market will experience a slowdown during the festive season, but what will happen in spring? And where are we headed next?

England’s property market increased annually by 7.4% dut decreased by 0.1% on a monthly basis.

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England’s success story for 2016 would probably be in the country’s East where property prices increased by 12.3%, the Land Registry’s most recent house price index data revealed.

The country’s biggest sufferer would be England’s North-East, which experienced the smallest annual increase rate at 2.7% as well as the biggest monthly drop at 1.3%.

eMoov’s founder and CEO, Russell Quirk, commented this year’s developments by stating the following: “After a whirlwind year, property in the UK continues to remain resolute continuing the upward price growth trend, albeit only marginally. Traditionally London and England as a whole are the powerhouses of the UK property market, but with both seeing a decrease in prices over the last month it’s testament to the strength and diversity of the market that prices have continued to creep up across the UK as a whole.”

Are we too pessimistic about Brexit and the country’s economy?

The best advice for the next couple of weeks ahead? Spend some time with friends and family and do some research, and then take advantage of your knowledge early next year when the market is coming back, Quirk says.

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