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UK Property Market Set for 'Strong Decade of Buyer Activity'

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    Moverly: Housing Market Poised for a Decade of Growth

    New research from Moverly indicates that, based on the transaction levels in the 2020s, the housing market is on track for a strong decade.

    According to their data, the average number of transactions across the UK property market has already significantly increased this decade, which could mean that current conditions are much better than they were in the previous decade.

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      A Decade-by-Decade Overview of UK Property Transactions

      Moverly aimed to determine how the UK property market has evolved over the years, analysing the average number of annual UK residential property transactions seen each decade from 1990 to now.

      According to this data, around 12.935 million homes were sold across the UK during the 90s, equating to an average of 1.293 transactions across the decade.

      Moverly’s report states that this level of market activity notably accelerated in the noughties, with 1.405 million homes sold on average, an increase of 8.6% compared to the previous ten years despite the 2008 global financial crash.

      However, the impact of this market turmoil apparently left its mark throughout the 2010s, with just 11.036 million homes sold across the UK in this period. This equated to an average of 1.104 million per year, with the annual total slipping by 22% below the previous decade.

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      A Brighter Outlook for UK Property Transactions in the 2020s?

      Looking at this decade, Moverly says the average monthly number of transactions across the property market has already significantly increased compared to the past ten years.

      According to their data, the UK has seen 5.337 million residential transactions over this decade, the equivalent of 1.86 million per year – a 7.5% increase from the previous decade. Gemma Young, Moverly CEO, said: “These positive figures come despite the fact that the property market has had to weather a period of prolonged uncertainty spurred by higher interest rates. Now that we’ve weathered the storm and are heading in the right direction, the market looks set to continue performing well over the coming years.

      “Whilst we can’t anticipate what might happen over the following five years, we’re currently on course for a very strong decade where transaction levels are concerned, and this means that property professionals are likely to have a more consistently heavy workload than they have carried for a long time.”

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      Author

      Reece Pape

      Reece Pape is a property writer at RWinvest. Utilising up-to-date property statistics and data, Reece aims to keep investors informed on the latest market developments.

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        Market & Investment Trends, UK