The British housing market shows a decline in 2018, and sellers of expensive real estate in London complain about the lack of buyers. These are the survey data of realtors, conducted by the Royal Institution of Chartered Surveyors.
According to the published report, demand for housing falls for the 10th month in a row, and the number of real estate sold by realtors fell to the indicators of mid-2017. One of the problems of the market for real estate agents is the lack of an interesting offer.
About 67% of the surveyed real estate agents noted that the real price of selling a home, the cost of which starts from £1 million, was significantly lower than the one originally requested by the seller. According to some information, the price could be lowered by 50% at the conducting a transaction.
The largest drop in prices was observed in London, but they also fell in the southeast, in East Anglia and the northeast. On the other hand, the north-west of England, Northern Ireland and Wales demonstrated price increases compared to the rest of the UK.