“Winter may not be behind us yet, but, as far as the property market is concerned, spring is definitely in the air,” says Chris Pick, Business Development Manager and Valuer at Alasdair Morrison & Partners.
“The latest figures from Rightmove suggest a cautiously positive start to the housing market in 2018. Average asking prices of new-to-the-market properties across the UK rose by a modest +0.8% in January 2018, with the East Midlands showing a very positive +1.9% monthly change.”
Chris continues:
“This is in line with our own observations of buoyant start to the year in Newark and Southwell, with enquiries from both buyers and sellers on the up. We are seeing sellers who are serious about selling, setting realistic selling prices based on local market conditions to achieve sales. And this optimism is also generating plenty of viewings too.
“However, it is the enquiries from sellers that are most encouraging. Only when more people come to market can buyer demand be satisfied. Some people delay moving because they feel they cannot find a suitable property to buy. But this is a shame, as we always have ‘off-market’ properties for sale for these buyers. A chat with your local estate agent is key to finding these properties when they aren’t advertised elsewhere.
“The Stamp Duty Land Tax break given to first-time buyers has undoubtedly had the desired effect, with about a third of sales going to this group of buyers. This makes so much sense as, according to the Halifax, it costs over 11% more to rent each month than it does to buy, excluding any capital appreciation. Indeed, the Association of Residential Letting Agents (ARLA) reported that the supply of rental properties fell by 8% in January 2018, which will only serve to put more upward pressure on rents.”
Chris finishes:
“The property momentum has therefore started early this year, possibly due to pent-up frustrations caused by last year’s economic and political uncertainties.
“Combined with the usual spring rush, 2018 could turn out to be a pivotal year that sees more people who want to move house being able to do precisely that. And OUR job is to help make it happen. So, if you are contemplating a move, your timing could be perfect.
“Why not call us for a friendly no-obligation chat on 01636 700888 or 01636 813971 and let’s get you moving in 2018.”
