A New Dawn

Added on 08 January 2020

As we predicted, the end of December proved to be a busy time for Thorntons. New properties to the market were up 31% compared to December 2018 and Sales were up by over 75%. The apparent end of three years of Brexit confusion, prompted by the definitive general election result gave the property market the stability it was looking for. We were open for business during that time and our clients are now reaping the rewards, with a number of sales having already been agreed. 

Those buyers and potential sellers who understandably adopted a wait-and-see approach during those politically uncertain times are now expressing their pent-up desire to move and the brakes are off.

This does not however mean that prices will suddenly rise. This is because the increase in new buyers entering the market will be more or less matched by the number of new sellers entering the market between now and Easter. So activity and transaction volumes will rise, which is good for those buying and selling as the additional fluidity provides greater choice and faster moves.

House prices themselves, which are notoriously difficult to foresee, are generally predicted to rise modestly in 2020, by around 1.5% to 2.5% - effectively keeping up with inflation. Regional variations will be huge of course. In fact, over the past decade, although the average upturn has been around 27% this is very much an average with wide regional variations ranging from +101% (Waltham Forest) to -8% (Aberdeen) with all points in between. So beware averages in both reported figures and predictions!

The key message to sellers is that as long as you are not unrealistically ambitious on your asking price, then you WILL sell. This is a time of renewed hope and optimism. We have hopefully moved away from uncertain times and there is now a great desire amongst clients to get on with their lives and make the house move they wanted.

If you’d like to take advantage of the opportunities of the moment, then please feel free to call us on 03330 430090 for a free marketing proposal and suggested asking price valuation of you property. With over 1,500 property sales last year you know you will get the service that you deserve.   

Peter Ryder

Managing Director

Thorntons Property

 

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