Uncertainty and an ever tightening of people’s finances, as the poorer economy started to take a grip, undoubtedly caused a downturn in the housing market towards the end of 2022, and this continued into the start of 2023. However, are we seeing the tide starting to turn again? At Greens Removals, who provide high-quality domestic removals services in East Anglia and throughout the UK, we certainly think so.
Coming out of COVID and the immediate impact of Brexit led to a very buoyant housing market over the past couple of years. Interest rates remained low and there were still great deals to be had when looking at mortgages. Then, we saw the impact of the war in Ukraine and an economic downturn which led to increased interest rates, much higher fuel prices, other cost of living increases and uncertainty impacting the housing market.
Over the past few weeks, however, it would appear that inquiries for removals services might be starting to increase. At Greens Removals this is certainly the case, and during the past three weeks alone we have noticed a definite rise in enquiries for our services. We also speak regularly with industry colleagues and several of them are reporting the same increase that we are seeing.
Maybe this is due to a little bit of confidence returning as we see interest rates are now forecast to be stabilising and the economic downturn is starting to show signs of slowing down.
We recently read a report in the Financial Times appearing to support and back up what we think we are seeing. They are reporting a less pessimistic outlook in the property market than we have seen over the past few months. Click on <a href