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UK Housing Market Rebound Potential
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Mortgage Demand and Market Growth
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Cash buyers account for a third of UK home sales in 2023, driven by older, wealthier buyers and the purchase of cheaper properties. Mortgage rates have started easing due to decreasing inflation, indicating potential signs of a housing market pick-up. Property professionals expect a seasonal bounce in the housing market next spring, provided there is no general election in the first half of 2024. The housing market has been turbulent due to high inflation and higher interest rates, but optimism is growing as inflation continues to dip, potentially leading to lower interest rates and a revival of the UK housing market.
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How might the increase in cash buyers impact the overall housing market dynamics?
In what ways could the potential revival of the UK housing market affect the broader economy?
What strategies could property professionals employ to capitalize on the seasonal bounce in the housing market?
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