Following a busy start to 2010, we are continuing to see high levels of activity in the local housing market. More buyers and sellers are re-entering the market, whether they are looking to move up the property ladder, downsize to a smaller property or buy their first home.
For many, there has never been a better time to move. With demand still outstripping supply there are fewer properties on the market and less competition for buyer attention, so more properties are achieving offers closer to or for the asking price.
There has also been a gradual easing in terms of achieving mortgages and, although it is still not easy to secure loans, we are seeing more options available for buyers.
Connells Group’s own house price figures show consistent monthly increases from February 2009 onwards with an overall increase of over eight per cent on the year. House prices are subject to basic laws of supply and demand so now is a fantastic time to move for those looking to trade up, as the percentage gap between the price you can sell for and the price you can buy for is likely to grow over the coming months.
We are now gearing ourselves up for the spring rush, which is one of the busiest times of the year in the housing market. The sunnier weather brings a rush of activity with both buyers and sellers looking to move, so we are advising those who are thinking of selling to put their property on the market now, ready for the spring rush
Rob Matthewson, Area Director, Connells