Greycoat Real Estate Analysts Espy Bright Spots in the Market

According to Greycoat real estate agency, the British real estate sector is mired in high-interest rates for mortgages. That’s scaring away homebuyers and sending prices for housing plummeting. Combine that with an ongoing sluggish economy that has yet to emerge from the fiscal crisis and now a record five straight quarters of recession. Sometimes it seems the gloom will never clear.

But wait a minute! 

Experts as with a premier. U. K. properties firm, Greycoat Real Estate, directs our attention to a recent ray of light filtering through the clouds. The U.K. property market recently bounced back from the usual and expected August Bank Holiday slide. 

Listings and sales have been showing signs of renewed life. Real Estate agency´s analysts note that the U.K. Property Market YTD is cruising along at 90.5% of the 2017 average in terms of net sales. For Greycoat, it’s a situation that agents across the nation were only dreaming about at the beginning of 2023.

For example, the number of listings resurged from previous weeks. Those numbers are 26,778 moving up to 34,006. That makes the 2023 YTD weekly average a rather robust 32,651 (Bdaily).

The reliable Greycoat Real Estate agency´s analysts point to some other key data points as well. One is a jump in the average listing price. It reached £472,907. Granted, it remains unknown if this is an anomaly or a bona fide trend. It may be due to more expensive homes entering the market realm. At any rate, the 2023 weekly average is now £431,311.