Real estate expert Nick Millican talks about UK current housing trends. He says how the online publication, The Standard, has a section entitled “Homes & Property/Property News,” There is an article which updates the status of the London housing market. 

In particular, it lists sales figures for the month of February, 2024. The title of the article highlights how homes continue to sell below the asking price. The important news is that for February the difference between asking price and sales price is shrinking. And this is when real estate expert as Nick Millican come in. 

This is seen as good news for sellers, and it is also a sign the market is rebounding. The difference is now 4.3 percent as opposed to 6.1 percent in November 2023, as Nick Millican adds. One factor in the drop is the increase in the number of homes on the market. Now that sellers can receive closer to their sales price, they are more likely to list their homes.

Although this seems like good news for sellers, the article states that the London housing market is still a buyer’s market. This is due to falling mortgage rates, and the previously mentioned rise in the number of houses. More choices give buyers greater leverage, Nick Millican adds.

Anyone wanting to follow up on the data and insight from the article in The Standard would do well to seek advice from Nick Millican. He has spent his life working in the real estate industry. He knows the ups and downs of the property market. Mortgage rates, demands of buyers, supply and demand, and other factors that make the market a vital part of the London environment. Millican knows it all.