The next three months for the housing market look as if they will be the worst period for 20 years, with sale prices expected to fall dramatically. If you are thinking of buying it’s good news, if you are thinking of selling … it’s not so great!
The downturn has been linked (not surprisingly) to the uncertainty surrounding Brexit, but also to the general affordability of the market. This has led to a lack of supply and demand; sellers are not comfortable to sell and buyers are nervous about buying, or unable to afford it.
Once Brexit is out of the way, and depending on the outcome of the negotiations, experts seem confident that we will see a rebound and recovery. This relies on many ‘ifs’ and ‘buts’ so we will check back again in three months to see how the market is getting on.