Sales Market

Posted on 24 April 2020

Due to the current Global Pandemic, there has been a lot of uncertainty regarding the Sales Market in the Uk. The Market has been put into temporary freeze, due to the Coronavirus.  What will it the Market when this is over and what are the actual figures?

House sales in the UK will collapse this year as the coronavirus pandemic puts the sales market into temporary freeze. However, a research states that the prices in the Sales Market will only fall by 3%.

Unfortunately, it has been said that the number of house sales in the UK would plummet from 1,175,000 last year to just 734,000 this year due to the Pandemic.

On a positive note, there is no prediction on a severe collapse in house prices, which were starting to increase early on this year before the Coronavirus took over. As mentioned above, research suggests that it will decrease by 3% in 2020, but then bounce back by 5% in 2021. Research forecasts that the British economy will diminish by 4% in 2020 before growing by 4.5% next year as the pandemic retreats.

Luckily, research foresee’s that the housing market will steadily increase as soon as the lockdown ends.

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