Greycoat real estate agency talks about the current economic crisis within the housing industry. Reallymoving.com is expanding on a trend in home prices that mimics those of early 2023, as inflation pressure releases and homes are closing at lower prices entering the holiday season.
“Buyers who agreed to property purchases in the third quarter of the year are spending significantly less than they did in Q2, so sellers have clearly been forced to adjust their expectations in order to secure a sale.” says founder and CEO Rob Houghton. Both CEO and the Greycoat agency’s specialists are the ones taking care of this for their clients.
Property Industry Eye’s analysis of their study including 221,000 property sales can conclude the same, averaging a drop of almost £15,000 in the 4th quarter of 2023. These numbers are based on ReallyMoving’s Quarterly House Price. As Greycoat confirms, a unique data gathering happens as soon as a price is agreed to, rather than after the closing date.
By using this system, Greycoat specialists adds, the whole housing prices can be captured closer to real-time, giving the forecast a unique edge against other strategies. This drop in prices is creating a strong opportunity for first-time buyers (Bmmagazine).
Overall, for them to enter the market and escape the heightened rental costs. These first-time buyers will have an advantage the market hasn’t seen in years to leverage dropping prices into investments and long-term living solutions. At Greycoat Real Estate, we are keen on market changes and ready to help any buyer reach their goals and navigate an ever-changing real estate landscape.