We appreciate that these are challenging times, and many people are keen to see optimistic signs. While it is vital people are realistic about what is happening these days, when it comes to the housing market, we know people like to look on the bright side.
At Austin Property Services, we are pleased to say we have helped many local homeowners connect with buyers. The stamp duty holiday invigorated the market, and we know a lot of people are still keen to make a move in the market.
Looking for positive signs regarding UK housing market?
It is likely there will be uncertainty in the market as it goes along, but it is helpful to have positive remarks that fill you with a sense of confidence.
While there are some concerning predictions regarding how the UK will fare, it is pleasing to see some positivity. The chairman of a major bank believes the economic recovery in the UK is likely to be stronger than many people predict, and this will be good for the housing market.
There is a changing landscape in the UK business arena
Mr Vereker, chairman of Santander UK, speaking to This Is Money, said; “There is significant pent-up consumer demand and savings which will flow into the economy later this year so I can see a quick bounce-back. Second, I am optimistic about business investment.”
It is fair to say there has been a great deal of uncertainty in recent times, both because of Brexit and of course, our dealings with the Covid-19 pandemic. Mr Vereker says the market has been ‘anaemic’ due to these factors, but there are reasons to be more positive.
He said; “Now, however, you are going to have a much clearer framework in which to make investments because the Brexit deal is going to remove a big element of uncertainty and I would also expect the Covid situation to improve.”
There will be opportunities for growth across the UK
He also said that there will be a 'reassessment of the UK as a place to invest and do business,' and if the right framework is put in place, there is a chance to build for the future.
Mr Vereker concluded by saying; “I am optimistic because of the combination of those three things, and a fourth. That is, on a relative basis, the UK looks good in terms of the opportunity to invest, employ and develop businesses. We still have pretty flexible labour laws, the English language, excellent education and a strong legal system. These are competitive advantages which have meant capital and talent have gravitated to the UK over 30 years. I can see sterling strengthening and the economy growing faster than forecast.”