2020 – an unexpected year not just for economy or real estate sector but about everything else – but the year closed out on a positive note for UK real estate market. Unexpectedly, the real estate sector in the country thrived well during the pandemic and even in the last quarter of 2020, the property prices were at a record high, touching unprecedented heights.
During recession when the economy takes a downturn or any other upheaval when unemployment rises and all we sense is uncertainty around – theoretically, property prices should be slashed. This is what happened during the global financial crunch 2008 but not in this crisis, at least in the UK and at least so far. Does this indicate that it is the right time to invest in real estate sector or it is the right time to sell your property at higher price?