The gamble of the housing market

the housing market

It is certainly a time of uncertainty when it comes to the housing market, which is seen as a gamble as such to many. However, this does mean that there are some great opportunities available for buyers. It is all about picking up the best offers available, similar to the offers at the Book of Ra, when it comes to gaming. It is a similar gamble in both but that can pay off. This period of time has been seen as a golden opportunity to some buyers as they expect the market to rocket in the near future.

The UK is currently divided on the subject as there continues to remain problems due to Brexit. This is the key reason why the housing market remains fragmented, and this is only set to continue until this has been resolved. You only have to look at details from Rightmove at the start of the year. It showed that it was the slowest opening to the start of the year since back in 2012. However, that the average asking price had rose by 0.4 per cent from the same period the previous year. Therefore this is showing a positive and hopefully this will continue to rise over the next 12 months.

It was also a similarly murky picture from Your Move, as despite the small increase in house prices of 0.3 per cent, the annual price growth was the most sluggish as they had seen in seven years. This was just another indication of the flatlining market and why it remains a gamble in the housing market at present.

Brexit is fuelling economic uncertainty, which is the key reason behind this lack of growth in the market. This does in some parts of the UK mean people gamble, as they look to cash in prior to an expected growth in the market. A key example of this being in the London housing market.  There are a number of London boroughs that initially saw a sharp fall in house prices, that led to a large number of people picking these up for reduced prices as they looked to bag a bargain as such.
The City of London on a whole had the highest annual change of just above 13%. Other places in the UK above five per cent included Darlington, Leicestershire, Derby, Nottingham and Warrington. It is interesting times but following the conclusion of Brexit, prices will be expected to increase again, with more people getting back involved in the market.