{"id":716,"date":"2016-07-24T11:05:03","date_gmt":"2016-07-24T10:05:03","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=716"},"modified":"2016-07-24T11:05:03","modified_gmt":"2016-07-24T10:05:03","slug":"british-housing-market-overview","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/07\/24\/british-housing-market-overview\/","title":{"rendered":"The British housing market: An overview"},"content":{"rendered":"

Prior to the EU referendum, the UK\u2019s housing market was often described as a bubble. With some time having passed since the vote and a lot of data being collected, find out what the market currently has on offer.<\/strong> <\/p>\n

The slowdown opportunity<\/strong><\/p>\n

An important factor when looking at the housing market is the transaction volume. Recent data from HM Revenue and Customs showed completions fell year-on-year<\/a>. This drop, however, can be explained by the rush to buy in March from investors trying to beat the new stamp duty surcharge that came into effect from April 1. <\/p>\n

Halifax on the other hand found that house prices experienced an increase month-on-month in June. Looking at the bigger picture though, the growth rate has been falling slightly.<\/p>\n

Overall, the market is slowing down. Many experts and commentators voiced opinions that this development is more of a natural cycle rather than a big surprise, especially when also factoring in that we\u2019re getting closer to the annual time for the market\u2019s summer dip. <\/p>\n

Competition is tough<\/strong><\/p>\n

In case homeowners will actually put off selling, those spectacular properties that come onto the market will be massively sought after. This will force buyers to make up their mind quickly to secure the right property or, even worse, offer more than asked for.
\n
\nHomeowners are afraid of a price drop<\/strong><\/p>\n

Only six weeks after the referendum, a lot of the data available is more of a summary of people\u2019s sentiments rather than stone cold fact. <\/p>\n

Whilst Londoners are still feeling pretty confident when it comes to the growth of their house prices over the next year, the rest of the UK had a very split opinion, as Knight Frank\u2019s and IHS Markit\u2019s house price sentiment index revealed<\/a>. <\/p>\n

The capital\u2019s high end market might suffer<\/strong><\/p>\n

Transaction volumes for prime property in central London are now lower than they were eight years ago, in 2008. Some developers have already slashed the prices for some of their most expensive central London developments and investors are trying to sell before making too much of a loss<\/a>. <\/p>\n

Having said that, you should also keep in mind that Brexit isn\u2019t necessarily to blame for difficulties in London\u2019s housing market. Some developers slashed their prices earlier this year, way before Brexit became an actual force to fear. <\/p>\n

Assurance is important<\/strong><\/p>\n

The British housing market, and London in particular, is a complex concoction. <\/p>\n

For many investors, however, bricks and mortar is still the best place to put their money. Which is why build-to-rent property<\/a> which often comes with a rental assurance for a certain amount of years and offers modern accommodation to key workers and young families has seen a significant increase in interest from all fronts: builders, investors and Generation Rent. <\/p>\n","protected":false},"excerpt":{"rendered":"

Prior to the EU referendum, the UK\u2019s housing market was often described as a bubble. With some time having passed since the vote and a lot of data being collected, find out what the market currently has on offer. The slowdown opportunity An important factor when looking at the housing market is the transaction volume.… Read more »<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4741,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[27,114,105,37],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/716"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=716"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4741"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}