FindaProperty.com believes that the UK property market is at present experiencing a surplus of properties in the market. According to the property agent, this huge volume of properties, which is the highest since January 2008, will trigger a fall in house prices.
Supply is now 31 percent higher than the decline experienced in August 2009, owing to stock rising by nine percent in May.
Lucian Cook, Director at Savills, sees the above figures as an indication of the resurgence of the UK house market.
However, since the number of buyers bidding for the properties has remained unchanged over the rapidly increasing volume of properties, a fall in house prices looks almost inevitable.
Expounding on the above co-relation, Mr. Cook reiterated that the disparity in the number of stocks entered in the agents’ books and the number of property bidders in the market will eventually result in lower values. The Savills Director believes that the market today stands on the threshold on softened property prices.
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