Safe as Houses!

1st January 2005

T. Wyn Jones

As is always the case the New Year has brought a deluge of questions as to what will happen to the property market this year. Will it go up, remain static or as is generally forecasted drop?

I have for the last 2 years put my neck on the block and predicted an increase, but as for this year? Well I am prepared to go on record and again contradict the general consensus and state that in my opinion property prices in our area will see an increase in 2005 – as much as 10% for some properties.

Why may you ask does my opinion again fly in the face of the perceived smart money?

McCartneys 15 regional offices are located in some of the most sought after market towns in Britain, with local Farmers Markets, unusual Shops, highly commended Restaurants and a pace of life which hasn't quite caught up with the rest of the Country. Crime levels are low, people are friendly and Villages still retain a sense of community. So of course people still want to move to the counties of Shropshire, Worcestershire, Herefordshire and Powys.

In addition property prices in these areas are relatively low, relative that is to some other parts of the country.

On taking a straw poll of our viewers/prospective purchasers McCartneys found that approximately 7 out of 10 came from outside of the area - the majority from the South East and Midlands. This influx adds further fuel to the property market, remember the value of a 1 bedroom flat in some parts of the South East is the equivalent of a 4 Bedroom Detached Cottage with land in Mid Wales.

As recently indicated in a national newspaper the rush to escape the city for a life in the country will protect rural property hot spots from a down turn in the property market. This fact coupled with the general view that the interest rates have reached their summit and could possibly decrease in the spring can, in my view only bolster property prices in our area.

A word of caution however. An increase in property prices is not necessarily good news. Property prices are currently out of the reach of the first time buyer. Some Local Councils are more active in addressing this problem than others, but all Councils should make housing affordability for local people a priority.

Finally, I must emphasise that the above is my personal view only, which has to be said is not shared by all of my partners in McCartneys. But then again they are not Estate Agents and have you ever heard of an Estate Agent talking the market down?

For further information on Property Matters Wyn can be contacted on Tel 07702 722905 or by e-mail on wyn@mccartneys.co.uk