Propertymark´s Market Appraisal Decline Signals Opportunity for Greycoat Real Estate
Greycoat real estate agency specialists share information concerning the UK´s current housing trends. Property Mark’s recent report reveals an interesting 7% drop in market appraisals in March and a 4% increase in potential buyers registered per member branch in the UK. Although viewership numbers went up slightly, they were much lower than the previous year’s.
Greycoat explains more on this. Besides, during the month, 82 new prospective tenants were added to the member office branch database, while rental property availability increased by 8%. These fluctuations notwithstanding, the supply-demand imbalance continues, with nine applicants registering for one available apartment.
According to the CEO of Propertymark, Nathan Emerson, these changes are due to a high base interest rate in March 2024 and the positive GDP and inflation indexes. Emerson anticipates that the interest rate may decline if inflation continues to move further down. Emerson notes growing buyer registrations and viewings across the residential sales sector, implying increased demand. On the contrary, new instructions were marginally reduced while stock levels were unchanged from last year’s period, Greycoat further shares.
In the residential lettings sector, there was a slight fall in tenant demand and a slight increase in stocks. Nevertheless, the demand still prevails over the supply as a whole. While the established measures include the Renters (Reform) Bill and the Housing Bill, Propertymark will continue to advocate for the policy, encouraging investment and maintaining a proper housing system. Changes in the landscape, in turn, allow entities such as Greycoat Real Estate, a fully independent property service partner, to optimize value throughout the lifecycle of the property.
Greycoat Real Estate delivers its results by applying expertise in Acquisition, Financing, Development, and Asset Management. The real estate agency functions at this by cooperating with the right stakeholders; thus, they are able to quickly respond to market fluctuations or legislative changes and consequently capitalize on emerging opportunities in the real estate sector.