I wish I had a pound for every time I’ve been asked a similar question in my thirty years (or so!) in the West Country property market. Mostly, I believe, people are generally thinking about prices – Are they going up? Are they falling? – Well, after steady rises over the last couple of years, general predictions suggest that locally one might see around five percent growth this coming year. However, It’s the volume of actual sales that more determines the ‘health’ of the housing market.
More sales means more activity in the local economy, with buyers and sellers not only paying professional fees but also releasing monies to pay for cars, holidays, school fees, home improvements, or in many cases, providing deposits for family members to get on the property ladder.
2016 starts with lower levels of homes for sale in the local market and high demand from both local and out-of-area buyers, suggesting that we may see a ‘hike’ in prices in some of the more popular sought-after addresses in the first quarter of the year.
A NOTE OF CAUTION – With low levels of stock and healthy demand, it may be tempting for some sellers to think about “saving” money by using low cost agents – only to find that poor marketing, poor negotiations and lack of attention to the sale process results in achieving less, or even losing out on their next home and a bill for an aborted sale.
If you are thinking of moving in 2016 please do give us a call to find out how we can help you achieve the best price, with the minimum of fuss and help you find and secure your next home.
