RESIDENTIAL
“ Transfer volumes have fallen from 78 000 in 2014 to 38 000 in 2023 , a more significant decline than that seen in the rest of the market . While the market overall has declined , the data suggests lower earners are under increasing financial pressure and are participating less actively in the property market ,” states Ivins-Downes .
When it comes to value growth though the Affordable sector is doing well , particularly in the Low Affordable sub band , where growth each year has mostly been above 8 %.
Affordable Price sub bands : Annual growth 2014 – 2023
60 JUNE 2024 Real Estate Investor Magazine