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According to Zoopla's latest research, Liverpool is currently the fastest moving property market in the UK. Zoopla also say that several other major cities are now among some of the fastest moving markets in the UK, as the trend for rural and coastal areas comes to an end. Despite all the doom and gloom about the property market since the mini budget last September, it's clear from this data, which covers the timings October to December 2022, that some areas are seeing properties selling faster than they did in the previous year.
Well, if you listen to the mainstream media – especially The Telegraph – you would think the property market is going to crash and burn this year. Read more to find out the property price forecasts for 2023.
For the first time in the housing market, we are seeing demand versus stock levels tighter in the rental market than the sales market, hence higher rents are being offered by those desperate to secure a home. To find out what's really happening to rents, demand, supply and yields, read the full PRS report for Q3 2022 here from Kate Faulkner.
And the scary headlines begin! Sharp falls, slowdown, you name it we’ll hear lots of miserable headlines over the next few months, so it’s essential for agents and surveyors to start saying what’s actually happening in their area for different property types, not let these headlines frighten people into not doing a move they need. Read Kate's comprehensive analysis here.
And so it begins! The doom and gloom of the property market indices which are now starting to produce figures which suggest property prices are heading into reverse. I do find it interesting that much of this is being blamed on the mini budget, sure it didn’t help, but all the forecasters predicted a slowdown this year which has only just appeared. We have very short memories in the property market!