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To Buy or not to Buy: Acquiring Property in Summer 2017
Real estate buyers and sellers are concerned about the evolving situation on the property market after June elections in the UK. It still remains to be seen if their apprehension will come true: even though the political environment stays uncertain, the price rises, demand outstrips supply and the low pound rate will continue to attract overseas investors.
The Property Values are Back on Track
While trending downwards by 0.2% in May, in June the average house price for the country rose by 1.1%. Across regions, the largest increase may be observed in East England (5% annual growth), and the lowest in the north (only 1%). London estate values grew by 1.2% - quite small rate if compare with indicators for the previous years.
The major reasons why the property values are going to increase within the following periods are the lack of new buildings and a paucity of sellers on the secondary property market. Thereby, it would be more lucrative to buy a house now instead of waiting until the next increase in price. The growth is expected to be 2% by the end of 2017.
On the contrary, some other experts forecast stagnating prices in 2017 and 2018. Such disagreement shows that it is too early to draw the final conclusion shortly after the election.
High-End Builders will be Driven out of the Industry
There is a notable shrinkage of the luxurious companies’ share: such prominent companies as Crest Nicholson Holdings Plc and Berkeley Group Holdings Plc fell 6.7 and 3.4 percent respectively. According to the recent events in the government, the authorities will support more affordable estate developers. High-end property in the UK will gain in popularity among foreign investors due to sterling devaluation.
Also, the election will not provoke the establishment of the additional taxes on the property because at the current moment there is not enough third-party support of such a decision. Levels of investment in the UK property will remain the same.
In this regard, any acquisition on the market requires greater efforts than before. Fewer sellers put up their houses for sale and fewer buyers are ready to purchase overpriced real estate. Ready Property offers all interested some working solutions in making the appropriate house easier to find.
There are several sets of services intended for tenants, buyers and landlords. Standard package includes:
  • Advanced property search;
  • Deep analysis of prices and area’s comparison;
  • Deposit management and protection;
  • Assistance in negotiations and establishment of the contract.

Make your rent, purchase or investment less time-consuming with an expert guidance. Check out the full list of the estate services on our website and do not hesitate to contact us.