Housing Market Update
I guess it is that time of the year when we need to take a step back and review what is happening within the housing market right now. The main question people want to know is “Are houses selling?” & “Is the market coming back?”. Well I have news for you all and in the style of the Churchill dog, the answer is OH YES!
Since quarter 4 of last year we have been experiencing improved trading conditions across our national network which means it’s not just London that’s improving. I think it is fair to say that banks are being slightly friendlier than before (although they are still not on my Christmas card list – maybe next year?), but the good news is that it will get better.
We have been looking at some data this week which clearly shows the UK housing market is up around 20% year on year, which is astonishing. You may not read this type of report in the press as they are trying to tone it down a bit, but the results are definitely up. Over the course of the next 18-24 months I predict house prices to rise significantly and the sale times to improve considerably making it much quicker to find a buyer. One key reason for this is that the Government will be coming back to the country in 2015 and DC & his pals want to be able to have posters on your high street with the message “haven’t we done well!” and the best way for people to agree…….the housing market. The Help to Buy scheme that launches in January may well add another 100,000 sales to next year’s stats and with that will continue to allow prices to rise (and make the feel good factor kick in).
So my opinion is quite simple, the next few years are going to be good and to steal my bosses analogy…..”If the wave is coming, I’m on the beach with my surf board under my arm!”. So, if you’re thinking of moving up market it’s a great time, if you’re thinking of buying to let it’s also a great time, but if you’re thinking about starting your own business in estate agency…….you best give me a call PDQ!!