Early 2018 Property Market Comment

Wed 17 January 2018

We have seen a very positive start to 2018.
There was a noticeable quietening down of the phones, as expected, during December as people prepared for the festive season.

There has been a real gear shift and the communications activity has dramatically increased. Email, text and telephone enquiries for viewings is buoyant and extremely positive.

The shortage of stock is still very apparent, our database is top heavy with proceedable buyers ie cash buyers, applicants in rented, first time buyers and sold subject to contract. Through 2017 the mailing list sat at circa 71% proceedable, there has not been much change we are currently sat with 68% ready to move we need the stock to service those people.

Mark Hayward, Chief Executive, NAEA Propertymark commented: “2017 has been a busy year for the property market, and the Budget announcement to abolish stamp duty for FTBs has given them some optimism. This year saw an average of 25 per cent of sales to FTBs, the lowest in four years. Looking to next year it will be interesting to see what impact the stamp duty change had on the market, and if it really does help FTBs get on the ladder. We still only have a limited supply of housing available and policymakers need to think about how to help others in the chain, such as second steppers and those that would downsize in order to free up more larger homes suitable for families.”

Phipps & Pritchard with McCartneys are members of NAEA Propertymark which means that we meet higher industry standards than the law demands. Our experts undertake regular training to ensure they are at the forefront of developments in the industry and to provide the very best moving experience to you.

The market remains a sellers market, why not capitalise on this and call us on 01562 822244 for a free market appraisal.

Zoe Herbert DipREA FNAEA
Partner
Phipps & Pritchard with McCartneys LLP