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The UK property market is enjoying positive momentum
Mar 29, 2024
The UK property market is enjoying positive momentum London
By   Internet
  • City News
  • UK property
  • UK property market
  • housing developments
  • housing trends
Abstract: According to a recent report in the Financial Times, the UK housing market is experiencing a wave of positive developments. Recent surveys have shown that UK property companies are more optimistic about future price growth than at any time in almost two years. The Royal Institution of Chartered Surveyors noted that its index of price expectations over the next 12 months has doubled from 18 points in January to 36 points, reaching its highest level since June 2022.

These figures reflect a positive trend in the UK real estate market. Professional institutions believe that data on house prices and mortgage approvals will continue to improve. Some property experts suggest that despite economic fluctuations after Christmas, the trend in the real estate market remains upward.

Furthermore, the Royal Institution of Chartered Surveyors' index of past 12-month house price performance has reached its highest level since October 2022. In September 2022, the average house price across the UK hit a historical high.



On the policy front, UK Chancellor Jeremy Hunt has decided to lower taxes for high-rate taxpayers selling residential properties starting from April, a move expected to further boost market activity. Simon Rubinsohn, Chief Economist at the Royal Institution of Chartered Surveyors, believes that the current survey results provide some positive signals for the sales market, with buyer interest remaining positive for two consecutive months, and new instructions from agents also showing an increase.

In the rental market, the RICS index tracking rental price expectations for the next three months continues to remain high at 37. Despite a decrease in tenant demand, instructions from landlords are continuously decreasing, indicating ongoing supply shortages and a potential exacerbation of supply-demand imbalances.

Recent data reports show an increase in the number of buyers across various regions in the UK, particularly with London leading the way, followed by the Northeast and Northwest regions. With the increase in buying activity, the shortage of high-quality properties in the market may become more pronounced.

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The UK property market is enjoying positive momentum