Confidence in the housing market is on the rise

Philip Powell - Manager Country Properties HitchinBy Philip Powell – Manager, Country Properties Hitchin

Confidence in the housing market is again on the rise in Hitchin.

The latest figures from the Nationwide building society have just come through and they show a rise of 1.6% in prices for August, which is the fourth consecutive rise, this is a trend we are also seeing in Hitchin. The cause of this has been fewer houses coming on to the market place whilst we have been selling extraordinary numbers of homes to buyers who wish to buy before prices rise up too high again.  For first time buyers we have also just released some shared ownership properties and these have proved to be very popular as a good way of getting onto the housing market with a lower level of deposit and as they are in excellent locations and now at affordable prices so we have seen high levels of reservations in August.

We have also sold a number of flats and houses to investment landlords who have been expanding their portfolios whilst prices are relatively cheap. Rents, which had dropped last year are now holding firm and July was the busiest month  for letting properties in 2 years.In general demand is rising and more properties are required to satisfy this demand.

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