Last year, the market faced challenges such as increasing transaction costs and global conflicts that affected the economy. Also, the continuous high rates by the Bank of England affected after a turbulent past year. And this is where Greycoat real estate specialists come in. 

We highlight some of the reasons why the market might recover this year. However, we urge people to proceed with caution as the future is uncertain. In 2024, Greycoat adds, the market has made tremendous improvement, as shown by the dropping mortgage rates. 

We have linked the dropping rates to the competition shown by lenders. Greycoat Real Estate also predicts that property prices will reduce this year, thus increasing transactions. In contrast, transactions plunged in 2023 by over 20%.

With the current housing crisis, politicians are bound to address the crisis in their government manifestos as the elections approach. At Greycoat real estate agency, we could witness longer mortgage periods with lower deposits in the future.

Renters might rejoice over the disruption of the monopoly enjoyed by Rightmove. Recently, Costar has been making major shake ups in its services, focusing more on innovation and quality. Given its client’s tailored services, clients at Greycoat are bound to ditch Rightmove for them. Consequently, Rightmove will have to undergo major changes to retain its dominance, benefiting renters.