2019 Property Market Predictions
Wednesday 2nd January 2019
The Christmas decorations have been packed away and the new year is now here. Traditionally, this is a time when buyers and sellers alike contemplate their next move. Surprisingly, the immediate days after Christmas show a rise in property views year on year according to Rightmove. In some cases buyer traffic can triple between Christmas and the New Year. But with continued financial uncertainty ahead for the UK, how will this affect property prices in our area?
A Rightmove study forecasts that overall, the UK will remain at a flat 0% increase. Doesn’t sound good does it? However, in the northern half of the country a continued rise in house prices of between 2-4% is predicted. With the South having to adjust their selling prices downwards, this is where the overall 0% is calculated. So in real terms, our area will still remain positive.
Figures published for the December House Price Index show that the number of sales agreed were encouragingly resilient – only 2.1% down on the same time last year, despite market headwinds.
We still have a good number of buyers registered on our database; many who have already sold and are living in rented accommodation with money readily available. Therefore, there’s still a steady flow of buyers waiting to find their perfect home and with house price predictions expected to steadily rise in the North, it may be the right time for a valuation.
For further information or to book a no obligation valuation, please contact us on 01904 500455.