Greycoat: House Price Data Reaches New Accuracy High
One of the latest and most interesting developments in real estate is being reflected in house price data. According to many experts in the industry such as the Greycoat real estate specialists, these prices are being recorded more accurately than ever before. This is a phenomenon that is due to a number of key causes.
According to the data, the total number of house purchases in whole Britain this year is on course to drop. Many experts predict that the housing purchases number will decrease by as much as a fifth. As a result, Greycoat added, the end figure will be as much as 21%lower than last year’s total.
This may represent a downturn to the lowest figure that has been recorded since 2012. At Greycoat real estate firm, sources also indicate that the total property portal forecast predicts a total of 1m residential property sales for this year. This will be significantly down from the total of 1.26m that was recorded last year (Building).
Zoopla has reported a decrease in average house prices. This downturn began at least as far back as last May. The property portal source indicated that home prices were down a total of 2% from their peak last September. However, as Greycoat implies, they were still over 20% higher than before the beginning of the recent Covid-19 pandemic.
House prices are slowly adjusting to a more sensible level all throughout the nation. This may be due to a series of strategic increases in people’s earnings. This trend may be playing a part in increasing affordability. Many of the insights shared in this article come courtesy of Greycoat Real Estate.