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UK Property Trends: What Buyers and Sellers Must Know

Buyers and sellers must stay informed about the latest trends as the UK property market evolves. This blog post will cover some of the most critical trends affecting today’s UK property market and what they mean for those looking to buy or sell a property.

Prices Are on the Rise

The steady price increase is one of the most notable trends in the UK property market. According to the Office for National Statistics (ONS), average house prices in the UK have increased by 10.2% since March 2022, reaching a new record high. Various factors, including low-interest rates, government incentives such as the stamp duty holiday, and a shortage of housing supply, are driving this trend.

This means buyers may need to be prepared to pay more for a property than anticipated. For sellers, it means that there may be an opportunity to achieve a higher sale price than they would have expected.

The Demand for Outdoor Space is Increasing

Another trend that has emerged after the pandemic is the increased demand for outdoor space. With many people spending more time at home, the desire for a garden, balcony or terrace has become more critical. As a result, properties with outdoor space are in high demand, particularly in urban areas.

This means buyers may need to be prepared to pay a premium for a property with outdoor space. For sellers, highlighting any outdoor areas in their property marketing could help attract more interest and achieve a higher sale price.

Remote Work is Influencing Property Choices

The rise of remote work has also impacted the UK property market. With many people no longer tied to a specific location for work, they are increasingly looking for properties outside major cities, in more rural or coastal areas.

For buyers, this means there may be more opportunities to find properties in previously considered less desirable areas. For sellers, properties in these areas could become more attractive to buyers.

Sustainability and Energy Efficiency are Becoming More Important

Finally, sustainability and energy efficiency are becoming increasingly important for buyers and sellers. With the UK government committed to reaching net zero carbon emissions by 2050, properties with good energy efficiency ratings will likely become more desirable.

This means buyers may be more likely to consider properties with good energy efficiency ratings, particularly if looking for a long-term home. Investing in energy efficiency measures could help attract more interest and achieve a higher sale price for sellers.

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