Posted on Monday, December 23, 2013
As 2013 comes to an end and the new year emerges it’s clear that the last 12 months has seen a turning point in the market, with the recession hopefully behind us as a slowly fading memory. According to House Price Analytics, most of the house price indices suggest that prices in England and Wales have risen by between 3% (HM Land Registry) and 6.5% (Nationwide) in the past year.
As ever, it is confidence that drives the market! For the past few years a lack of confidence dissuaded people from buying and selling property. First-time buyers, who have historically been the drivers of the market, were also unsure about venturing into an unsure market and many sellers were unable to move due to reduced equity levels.
Fortunately confidence has clearly returned and looks set to stay for the foreseeable future and we predict that in 2014 buyers and sellers alike will reap the benefits. Of course, as people sell, so they themselves become buyers, adding further fuel to a pent-up demand along with the Government’s “Help to Buy” scheme. We expect to see shorter sales cycles, asking price offers and stronger mortgage valuations to support lending.
We have already noticed considerable strengthening of the market locally and have
been able to secure some excellent prices for our clients over recent months and with extra demand in certain price ranges, we only sense the market will go one way. So if you are considering a move in 2014, why not take advantage of this and ask us to provide you with a Marketing Proposal in respect of your sale…you might be pleasantly surprised!
Indeed, by putting your sale in motion now, you’ll be in stronger position as a buyer yourself when everyone else comes to market in the spring! Activity levels over the post Christmas and early new year period never fail to impress us.
