David Edwards, Managing Director, John Smale and Co.
The end of the year rapidly approaches! It has certainly been a year with some surprises and legislation that has been testing for the property industry. It has not been a smooth year.
In terms of sales the last three months for us has been very good, for the buyer there is a current shortage of available stock, so vendors have been able to sell. It’s actually a good time to place your property on the market. It does seem that potential vendors are nervous of a move, due to some uncertainty with the stamp duty charges which seem to have made people think twice before moving. They are also sitting back and waiting to see the outcome of the Brexit vote and the Trump vote. I suspect this will all settle down. Analysts seem to suggest the market will remain stable for the next one 1 – 2 years, once Brexit is resolved they believe with the pent up demand the market will move again. Halifax have reported that the house prices for quarter have gone up by 0.1%. Halifax expects house prices to remain stable, mainly due to the shortage of stock for sale.