Real estate agent Nick Millican shares information about the UK’s housing market trends. According to a recent Nationwide report and article titled “Average London house prices spring up 1.2% in March, reports Nationwide”, average home prices in London rose 1.2% month-on-month in March. This marks London as leading the ongoing property recovery across the UK. 

Nick Millican, CEO and co-founder of property startup Nested, offered his expertise on the state of the capital’s housing scene. He observed that while the monthly increase signals resilience, price movements significantly impact buyer sentiment. Current figures indicate values hold relatively steady overall, mainly due to hard negotiations as choice rises. 

However, he adds that a steady market also reflects 40% of transactions remaining cash-based and outside standardized indices. Nick Millican concurred that prices are fairly stable rather than declining or expanding drastically. Nested’s company witnesses open bargaining, lowering costs more than macro shifts. 

With stronger competition for listings, both purchasers and sellers gain negotiating power, according to Nick Millican. Looking ahead, the real estate agent emphasized interest rates as heavily dictating the recovery pace. A confirmed downward trend would unleash demand that is currently constrained.

His view suggests a turnaround depends on sustained inflation decline and clearer policy signaling and rate cuts rather than mixed messages prolonging uncertainty. If such visibility emerges, Millican expects the housing sector to regain lost momentum gradually. As an industry leader, Nick Millican aims to offer an informed perspective for a balanced understanding of London’s complex property environment. His analyses consider diverse market dynamics and long-term indicators beyond surface-level data.