According to Greycoat, the UK housing market seems to be doing quite well at battling the housing market crisis that has swept through the Western world in recent months. Overall, UK housing markets are performing better than many expected that they would. 

There are currently more than 100,000 more properties on the market right now than there were a year ago at this time, Greycoat informs. Home sales are fairly close in number to what they were last year at this time as well. The issue seems to be that many people listing their homes for sale are still overvaluing their homes.

Also, many buyers are not keen to pay the higher prices for the property that they might have been willing to pay in the past, Greycoat real estate agency states. The average home in the UK is now on the market for 432,116 pounds, and the average home in the UK has a 7-year value increase of about 17% on average. 

Homes are continuing to appreciate in value throughout the UK, and that is a trend that is expected to continue for the foreseeable future, Greycoat recalls. The amount of potential sales that fall through is up to 30%, which means that more people intend to purchase a home, but never follow through on purchasing it. 

While rental costs have dropped more than 4% in London itself, other parts of the North Eastern UK have seen prices rise by as much as 40% for rentals in the last year, which is making it difficult for many to afford a place to rent. Greycoat finally adds that some people are resorting to having roommates or looking to just rent a bedroom/bathroom in a home shared with others just to be able to keep a roof over their heads!