England House Sales: Market Trends & Insights

Housing Prices in England

With an increase in housing prices across the UK, the housing market in England is steady and showing signs of growth. The anticipation of an increase in housing prices resulted in positive activity in the market. With more houses being listed for sale and home buyers looking for properties across different regions of the UK. If you are a prospective home seller, the balance in the market is good news for you. As per the data shared by the UK House Price Index, property prices have risen by 0.4% and the average house price in the UK is around £280,660. So, this trend is in favour of both house sellers and potential investors to invest in the housing market.

UK's Housing Market and Regional Variations

Potential buyers or sellers should remain aware of the regional variations in the UK's housing market. The European real estate market witnesses different levels of activity and price variation across regions and so does England's housing market. With an increasing demand for affordable housing, buyers are seeking value for the amount. You will notice high housing prices in areas with high demand for houses and supply is low. Likewise, regions where the supply and demand are in balance witness adjustments in prices. The "Estate Agent Power" helps you navigate through England's complex housing market and enjoy a hassle-free property buying or selling experience.

Mortgage Rates Affect Buyer's Affordability

If you are a new entrant in the housing market of England, look for the mortgage rates and their effects on buyer's affordability. The mortgage rates are directly linked with housing prices and sold house ratio. For example in southern England, where mortgage rates are higher, the houses are more expensive compared to rest of the England. When buyers' affordability gets challenged, the trend is reflected in housing prices as sellers set for lower prices. Buyers who are unaware of the financial options available to them can use the Estate Agent Power’s platform to receive financial and mortgage advice when buying a property.

Surge in Rental Market and Increasing Demand for Rental Properties

With a surge in the rental market, there is an increasing demand for rental properties. More and more investors are looking for buy-to-let properties to get good retail yields. The increased demand has created an imbalance between the supply and demand of rental accommodations. Different reports are showing around an 8% increase in the rental market across the UK. So, for property investors, England is the best place to purchase rental properties and get the best yields. Real estate yield calculations are based on a property's market value. Estate Agent Power offers a "Yield Calculator" to find the right yield of a property located anywhere in the world.

Predictions and Forcast for England's Housing Market

An overall prediction of a rise in housing prices in 2024, shows a promising trend for buyers and sellers. In anticipation of higher prices, more listings are coming out as sellers are looking for the best deals. Latest trends also show that more sales are closing indicating that the market is stable. However, buyers are price sensitive and the right price strategy holds the key for getting the best deals.