This rise in house prices marks a rebound from the unexpected recent fall.
However, we believe this signals that growth this year is likely to face pressure and remain steady, as higher borrowing costs start to affect buyers, despite the market’s continued resilience.
Investors and developers in the residential sector remain motivated by the supply demand imbalance and under the new government, we think there will be more projects that get off the ground.
We are seeing a greater variety of housing options, such as co-living schemes, coming to market which fulfil the growing requirements of younger professional buyers. If prices flatten and interest rates start to fall, we will see more first-time buyers able to step onto the property ladder.
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