Real estate agent Nick Millican talks about the UK´s current housing trends; April continued to see a drop in UK house prices. Property values are below all-time highs by four percent. However, first-time buyers are still struggling, according to Nick Millican. Most are continuing their plans to buy.

First-time buyers say their plans to delay purchasing a home are because of high mortgage rates and home prices.  Nick Millican believes the slowdown is because of affordability pressures. However, he thinks the rate cuts will come later this year.

The cuts will help bring housing prices back up as demand for housing grows, as the real estate expert and asset manager Nick Millican states. Therefore, he advises first-time buyers to look in less expensive areas when purchasing a home.

Those first-time homeowners who leaped admit they had to settle for a house they could afford and not necessarily the house they would have wanted to buy. Homeowners who wish to upgrade to a larger home are also having problems. They, too, cannot afford the higher interest rates on mortgage, Nick Millican informs. They are stuck living in a smaller house for a longer time.

Most people, real estate agent and asset manager Nick Millican reveals, are not too surprised by April’s numbers. It is still possible to make a profitable sale. As listings continue to increase, the sellers need to be aware. Buyers are going to negotiate, and sellers need to be realistic. If they are, they will still profit from their sale.