If you’ve been lucky enough to live in the UK for the past few years, you’ll know that the UK economy has faced one beating after the other. Namely the big players are the following:n·   

• Covid-19 2019-2021
• The Cost-of-Living Crisis 2021
• The Ukraine War 2022
• The Petrol Crisis 2022
• The Israel-Gaza War 2023
• 2024 Election
• 2024 Riots

The economy has faced constant unrest, unable to get settled when we are involved in so many difficult situations in the world today. With threats of attack flowing in as a constant stream from countries around the world, and someone always angry with us, it’s no wonder we are facing such difficult times as a nation.

The property market has been closely monitored over the last few years by Smart Auction UK, with the main drops in the housing market being cause at the start of the events pointed above. As a nation though, we have become hardened to uncertainty and the market is recovering quicker and quicker each time an event occurs. We think we brits have come to realise that after all we have been through, we will just continue and there is nothing else that can be done. If there is something us brits hate to do, its waste time!

We hope that this stream of unfortunate events ends, and that soon we can have some peace as a nation for a good chunk of time, but regardless, it seems the countries state of mind is truly “keep calm and carry on”. We are becoming less effected and worried by these events, the housing market is recovering faster and we hope that the riots will cease soon and we can see a quick bounce back in the housing market once again.

Historically, since 2002, owner-occupied properties have been slowly declining.

Figures from 2002 show that the following percentages of houses were owner occupied:

• Wales – 75%
• England – 70%
• Scotland – 61%

However, in 2024 the figures are slumping drastically, with the only improvement being with Scotland who have more or less maintained their standing

• Wales – 70%
• England – 65%
• Scotland – 61%

In terms of social vs Private Housing, back in 1980, social housing was dominating, with over 30% of the rental market being social housing, and only 10% of the market being private. Today though, both figures plateau at around 18%-20%, being more equal thanks to private housing becoming more accessible but also due to social housing also being more difficult to access or to come by.

All in all, even though we face times of turmoil and doubt, the housing market compared to how it used to be, appears to be levelling out over the last 10 years, regardless of the life changing events that have happened to our country.

If you want to learn more about the best way to sell your property for free in the UK’s current economic climate, or just want your sale dealt with by real industry experts and analysts, you can send us an enquiry. 

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