Nick Millican comments about the UK´s housing trends. London recorded a surge in properties coming to the market during the Easter holiday break according to the property portal Rightmove. More properties came to the market during this year’s Easter holiday from Aug., 2020 and 26 Dec., 2022, and 26 Dec., 2023.
It is the first time that the market has recorded forty-five percent additional houses in a single week; comparing the increase during the Easter holiday break to the previous week, Nick Millican adds. The property market in London is shaping up as more clients increase their uptake of mortgages.
A survey of 1200 people on a database of the property firm Savills, also revealed a fifteen percent increase in client budgets. Figures released by the Bank of England showed the highest levels of increase in mortgages approved to homebuyers in Feb2024. For Nick Millican, it is that way.
As the London property market registers activities in recent months, the whole upcoming months are likely to see more growth and provide investors with more investment opportunities. Nick Millican, a property markets expert, remarks that the activities in the mortgage market in London are a sign of the likelihood of the market to recover soon.
He says that the high number of home sellers coming to the market before the Easter holiday is a good sign that things are starting to pick up. His advice for home sellers to foster growth in the coming months is to price houses competitively to secure sales. Generally, Nick Millican finally shares, there is a positive outlook for the market this year and both the home sellers and buyers are likely to benefit.