UK Property Market Recovery

The UK property market appears to be slowly recovering from the severe drop the sector has experienced in recent times. Although the market does not appear ready to spring back to its former glory, signs of recovery are slowly relieving homeowners of a large burden.

The recovery has been established from the latest housing sales statistics released recently, displaying increases in all areas of sales. Calculating the statistics of the number of average sales in the three month period until the end of July, the trimester resulted in an average of 2 additional sales to the previous trimester in the months ending in June.

While the increase in the average number of sales is quite low, the fact that sales are increasing monthly, provides a positive outlook for the remainder of the year. Some debates have emerged from the release of the statistics relating to the undersupply of housing currently on the market. This shortage of available housing for sale is presumed by analysts to be from owners preferring to hold onto their properties whenever possible, waiting for the market to improve. (more…)