UK Housing market declines due to a slowdown in sales

UK Housing market declines due to a slowdown in sales

Published at: 2017-02-22 08:38 | Author: iBroadcastPR
Sales on the UK housing market are predicted to fall by 11 percent this year, the most significant drop since 2008, as a result of inflated home prices and economic uncertainties. Many market watchers blame Brexit for the country's stagnating property prices, mortgage rates and housing sales. Detached homes in London will spend an average of six to seven months on the market before finding buyers, according to the latest data published by home.co.uk. Current UK housing prices are way above what buyers are willing to pay, according to local news reports. The trend is expected to continue this year.

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