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UK housing market remains remarkably resilient

January 26, 2017Article by Chelsea Battle

Home sales in the UK increased in December compared with the previous month, but were significantly lower than 12 months earlier, according to the latest official figures.

But despite the annual fall in property transactions, north London estate agent, Jeremy Leaf, described the pickup in the volume of homes changing hands last month as “encouraging” because it shows that the housing market was “much more resilient than many gave it credit for” amid political and economic uncertainty, which “augurs well for the forthcoming first quarter”.

Stephen Wasserman, managing director of West One Loans, added: “The economic road of the past few months has been bumpy and, while this looks set to continue, it’s encouraging to see that the UK’s property market is demonstrating such resilience.

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