Savills Says UK Housing Market Won't Recover Until 2028

Savills has said Britain's housing market is unlikely to recover until 2028, according to the estate agent's assessment reported by The Guardian. The forecast points to a prolonged period of subdued conditions in the UK property market, with any meaningful rebound not expected before 2028.

The projection from Savills, one of the UK's largest estate agency and property services firms, suggests that current softness in the housing market will persist rather than ease in the near term. The firm's view implies that buyers and sellers should expect an extended stretch of weak activity before conditions improve.

For investors, the forecast carries weight because Savills' outlook is closely watched as a barometer of sentiment across the residential property sector. A recovery timeline stretching to 2028 implies continued pressure on transaction volumes and house prices in the intervening period, affecting housebuilders, estate agents and lenders with exposure to the UK housing market.

The assessment also has implications for households considering buying or selling property, as it suggests little prospect of a near-term upturn in market conditions. Savills' view adds to the debate over how quickly the UK housing market can regain momentum after its recent slowdown.

The firm did not indicate in the report that a recovery would arrive sooner, placing its expectation firmly on 2028 as the point at which the market begins to improve.