Research shows housing market unaffected by economic turmoil

October 16, 2022 by Heidi

House Prices

A new study of the housing market in the UK suggests that it remains largely unaffected by wider turmoil in the economy at the moment, with most sellers and buyers staying focused on their goals.

This research was undertaken by Benham and Reeves and it found that the majority of those looking to either sell their home or buy a property had not changed their minds about that, despite the economic convulsions. Furthermore, most of the buyers and sellers who spoke to the estate agents for the study said that they thought the situation was nowhere near as bad as reported.

Benham and Reeves focused their research on people either trying to purchase a home or sell one, speaking to a total of more than 1,500 people from across the country. In addition to revealing continued bullishness among both buyers and sellers, the study also showed that the market is still afflicted by a lack of supply.

In total, 65% of respondents wanted to buy a home, while just 35% were in the market to sell. That shows how serious the lack of supply to meet demand remains within the UK housing market.

Only 16% told the survey that mortgage sector turmoil had affected their plans, while 84% stated that they remained totally committed to either buying or selling in the wake of recent issues in the sector and the wider economy.

All mortgage advisors with CeMAP training will welcome the news right now that people still want to buy and sell properties.