STRONG START TO JANUARY HOUSING MARKET

15th January 2019

STRONG START TO JANUARY HOUSING MARKET

In spite of the uncertainty surrounding Brexit, home buyers in the region are undeterred and it’s very much ‘business as usual’. The traditional early surge of new properties coming onto the market has generated high levels of enquiries and many homes are generating multiple bids. The market has seen a similar trend over the past few years, with limited supply improving average sales times, whilst leaving some buyers disappointed due to there being more buyers than sellers.

Recent market trends suggest little or no seasonality with regards to the best time to sell, but the majority of newly instructed homes come to the market in the first half of the year. Completed sales tend to be strongest in the final quarter of the year, with buyers pushing to make their move within the calendar year.

Although the market in greater London is tough, with prices falling by 2- 3% in 2018, the Midlands and North have seen modest increases of 2-2.5%, with up to 5% evident in some traditional ‘hotspots’. This picture is likely to continue over the next few years, as there are no signs of the market fundamentally changing, regardless of the Brexit ‘issue’.

So, if you’re looking for a move in 2019, be prepared to be in competition with other buyers, and make sure you are in a good position to proceed as we do have many cash and chain free buyers, ‘ready to go’.