As uncertainty and turmoil are at the heart of our Government and with only 15 days until we leave Europe, has our local property market been affected? We take a look back over the last 6 months to see if there has been any trends whilst also comparing them to the same months a year ago.
If you’re thinking of moving home at the moment you may think that the political issues we are going through may be causing a negative effect on the housing market. Other than one bad sales month we have seen an uplift in both new stock coming to market and sales agreed, however buyers may still be holding their breath over the next few weeks whilst a decision is made.
The above graph shows the level of new properties coming to the market over the last 6 months compared with the same months a year ago. We have seen an additional 145 properties come available from the dates listed above. This is extremely reassuring to see that home owners clearly still have a lot of faith left in the market place. A lack of stock however is still an issue and typically vendors are approaching a back to front move. This is mainly seen through vendors wanting to find a house to buy before they put their property on the market. If this is your desired route of moving give me a call on how to get the best result.
The last 6 months has also shown an additional 100 sales in comparison to a year ago. This again is reassuring from buyers, this has mainly been fueled by continued low mortgage interest rates. Considering Help to Buy has taken a large chunk of buyers away from the re sale market we have still attracted a lot of new buyers to the area.
The only slight negative has been February’s sales agreed which is understandable considering constant news streams regarding Brexit and how bad things are going to be etc etc etc. However if we stand back from the last 6 months and look at what has been happening in the local housing market, it is extremely positive. We have seen an extra 145 homes come to the market and another 100 sales agreed all things considered things are looking good at the moment.
If you have any questions or want any advice regarding selling or letting your home please call me on 0161 427 0755.