Trends in the UK housing market
The ever more evident stagnation in house prices and the rise of modular building design in construction are the two trends in the UK housing market which are most prevalent. Lower prices are closely connected with persistent uncertainty caused by Brexit, while more affordable modular building systems used for new homes are a welcomed change in the real estate market for all first time home buyers.
A predicted and long awaited price drop
Real estate prices have decreased and are expected to continually do so in London as well as nationwide in the UK. Many experts attribute this to the uncertainty caused by Brexit and its unpredictable consequences. The main reason for the price drop, however, lies in the otherwise astronomically high real estate prices in the UK, especially in London and the south. The prices there have reached the highest multiple of earnings in history and thus became impossible to be met by most home buyers. Another reason for lower prices is the use of prefabricated construction technique for building homes which is more affordable and thus a serious competition to the existing real estate on offer.
Modular building in the UK: the most popular way of constructing
It is a good time for modular building construction companies. Prefabricated and modular construction is becoming one of the most widely used construction techniques which is strongly supported even by the government. And rightly so: it is inexpensive and quick because the majority of construction is done offsite. Offsite construction has other advantages as well: it uses less material and ensures higher quality products due to better conditions in factories which are not weather dependent. Services of modular building companies in the UK are therefore in high demand because the construction of modular homes might be the only solution to the housing problem in the UK.