Real Estate Market in the UK

When buying a new house, you should mind numerous factors. Especially, if you are becoming a homeowner for the first time. A lot of things should be taken into consideration, such as your personal wishes and expectations, your immediately available funds, etc.

More than that, there are a lot of specifications that relate to different areas of London. For example, Canary Wharf is the second large business district in London. It is situated on the Isle of Dogs. The district is known to be the second financial center both in the UK and in the world. However, if you are eager to become a homeowner in this luxurious area, you should analyze this offer carefully. Here, you can see all Canary Wharf new builds.

But even if you know everything in detail, it is still difficult to clearly understand the structure of the modern housing market in the UK and how it works. Furthermore, due to the complicated global situation, the usual trade processes have started changing significantly.

Of course, a lot of reliable sources try to keep up with the fluent environment. For example, the Guardian magazine always illustrates the latest events in the industry that might affect the atmosphere of the entire housing market.

It is vital to note that you should be ready: the way you are looking for a house to buy implies particular expenditures and deliver different results. In other words, some ways are cheaper, yet the outcome usually leaves much to be desired, while others are more expensive yet deliver sufficient results. In fact, there are three ways to choose from:

  • Talk to more experienced colleagues, family, and friends
  • Try to do informative research by yourself
  • Apply to an up-to-date website and real estate agencies.

Be Smart. Be Modern.

Needless to say, the last option is the most reliable and effective. There are many popular platforms in the industry where one can discover available houses to purchase.

The point of such websites is that you can find a large variety of properties in London in the districts you like. The most obvious advantage of the program is that it has informative filters that let you select the best houses. They are mainly as follows:

1.    Bedrooms

You are free to choose the planning of the home and how many rooms it will have. It starts from a studio and ends with five bedrooms.

2.    Prices

It is really convenient that one can select the price range. The lowest price is £383,000; the highest – up to £860,000. Furthermore, there are two lines. One includes the rates for everything; the other calculates the rates for square footage.

3.    Completion

The age of the house definitely matters. But this factor becomes even more important when we want to purchase a completely new home. In this case, you should have a range of years within which you want the building to be finished. Of course, there is an opportunity to look through the houses that have already been built.

4.    Features

Various specifications can help you to filter out any unsuitable options. Even if you’ve decided on the area and the number of bedrooms, you still can miss some details that will become crucial for you. This filter will prevent you from unpleasant surprises. Here you can add:

  • Chill out Places
  • Cinemas
  • Local Cafes
  • Parking
  • Roof Terraces.

The list does not end here. What can you conclude is that these features mostly relate to the places and additional accommodations that you can find near your future home.

5.    Payment Options

As a matter of fact, today there are a lot of ways to buy a house. In the UK, the government has created a special website where they offer a number of programs to facilitate the process of buying.

But on 1newhomes, you can also switch on the filter concerning the payment options available. The most popular are:

  • Help to Buy
  • Investment Purchase
  • Mortgage
  • Part Exchange
  • Retirement
  • Shared Ownership.

6.    Area

Last but not least is the area of your home. You can think of what you can expect from the district you are going to live in. The filter includes:

  • Central London
  • East London
  • North London
  • West London
  • South-East London.

A Few Words to Conclude

According to the latest UK Housing Market Forecast, the prices for the properties in London have started wavering lately. They are characterized by a range of slight ups and downs. That is why the current period is quite confusing for anyone who is going to buy a home. Especially, if you do not know how to make the right choice.

However, with the modern platforms that exist today, you can easily switch on all of the necessary filters and make your final decision. Good luck!