UK market “in recovery” says Savills
The housing market is now in the early stages of a recovery that will be led by the prime market, according to a new report from Savills…
In Residential Property Focus, head of Savills residential research Yolande Barnes said that the imbalance between demand and supply that the housing market was experiencing “makes a recovery inevitable.”
Another indicator was a restored confidence in good old property, triggering price increases over the last few months, with prime London areas seeing a price increase of 4.3per cent for between March & June.
Savills said it expected prime areas to lead the recovery as they were less susceptible to restricted lending by the banks and unemployment.
The estate agent also said that it anticipated more properties to be put up for sale in the autumn which could disrupt the current supply-demand balance to favour buyers. “In this case, new stock for sale will take some heat out of the market,” Savills said.
Source: www.house-builder.co.uk