Market Update

Posted on Thursday, December 29, 2016

Firstly may we take this opportunity to wish you, your friends and family the very best wishes for the year ahead.

2016 was a year of enormous change, both politically and in the property market.

2017 will see the some of the consequences of those changes come to bear although many (particularly the realities of Brexit) may take many months or years before the full impact is known.

The period between Christmas and the New Year always sees significant uplift in traffic to our website and the major property portals as people start thinking about their moving plans. Research by the major portals shows that on average, people commence activity on the internet a full 3 months before they make contact with an agent to arrange a valuation or viewing. This is a significant change in behaviour and reflects the growing importance of the internet as a marketing channel.

We are already seeing an uplift in enquiry levels from those looking to sell and buy or let and rent and we expect this momentum to continue in the coming weeks.

Overall we feel that the market will largely operate in a “steady as she goes” mode with demand continuing to outstrip supply but affordability a key issue.

Whilst there may be some slight upward movement in interest rates during the year, we are currently at such a low base that we do not feel that any changes will impact significantly.

All in all, it is a good time to move, prices are generally stable, interest rates are low and there is a great selection of mortgage schemes available. The lettings market remains strong with good rental levels being achieved for well-presented and managed properties.

Given the enormous political, legislative and economic changes underway, if you are thinking of moving in 2017, give us a call and we shall be happy to discuss, in confidence, how our services can help you maximise the value of yoru property and achieve your plans. Alternatively just click here and we'll arrange to contact you.

Darren Murphy and Chris Harper
Partners

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