Property News

December Market Update

Added on 09 December 2019

We predict a very busy December in terms of buyer and seller activity over the coming weeks. There is so much pent-up demand that is just waiting to be unleashed following months of Brexit-related frustration. D-Day will be Friday 13th December – the day when we will wake up to an election result which, whatever the outcome, will put us out of our misery.

Most prospective sellers who have taken a “wait and see” attitude will by then be straining at the leash to get moving and will want to ensure their property is on the market in time for what we expect to be a record number of buyers browsing the portals and agents’ websites. Boxing Day is usually the busiest day of the year for property portal activity, but this year could be extraordinary.

This is primarily because all the usual economic indicators, such as employment rates, interest rates, inflation etc are looking very favourable, and have been for some time. The only recent dampener has been the election, following months of Brexit confusion. With that behind us, whatever the future for Britain in Europe, life goes on. People are fed up with waiting and many sellers who might otherwise wait until spring (seldom a good idea) are now expected to bring their sale forward to take advantage of the surge. This will also have the effect of putting them in a good buying position themselves, with a greater choice of stock, in the New Year.

2019 has been a bumpy ride for us all, whatever your view on Brexit. Nevertheless, we have maintained some remarkably good sales figures as we have knuckled down and focussed on what we do best – help people move.

It looks like house prices will hold steady next year, with gentle upward pressure, which is a healthy situation which responsible agents will embrace by focussing on sales rather than simply attracting overpriced stock.

If you’d like to take advantage of the opportunities of the moment, then please feel free to call us on 03330 430090 or pop into one of our local offices for a chat.

Peter Ryder

Managing Director

Thorntons Property

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