Housing Market Calming Down, According to eMoov CEO

Russell Quirk the Chief Executive Officer of property agency eMoov has released a few things to say regarding the current state of the housing market, which is apparently seeing homes in the country rise in value more slowly than they were before, suggesting that some form of stability seems to have returned to the market. Quirk explains that one must accept a slowing down of rate levels in any case, due to the stagnation expected around the seasonal Christmas period.

Things are therefore to be expected to have slowed themselves down somewhat in any case due to the simple fact that less people are likely to want to invest time and effort in the housing and property market around the Christmas season when they want to spend time with their families and friends. The slowing down overall thus seems to reflect this, but Quirk adds that things will certainly pick up again soon now that the tinsel season is over and business is opening up again as usual. Therefore it seems evident that the springtime season will show a rise once again because more people will be wanting to activate themselves again to get the year going with their plans to invest and change homes. Russell Quirk also adds that in any case the survey itself that has found this out (Rightmove) bases its data and results on the asking price of those whom it interviewed, and this is therefore not the same as the sold price itself.

What it does however unarguably show is the expectations of people who believe that the market is at a lower rate than it actually is. Confidence is not what is used to be but the Rightmove survey did indicate a 3% rise in the amount of traffic that agencies are experiencing, showing that there is still much be said about the construction industry and housing development projects in the future months to come.


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BDC 311 : Dec 2023