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Market Comment December 2017

Only a short time now until Christmas! As we head closer to the 25th December the property market is getting slower and slower as people concentrate on thoughts about presents, food and drink! This is the usual seasonal slowdown and nothing unusual. We will have to wait until January to see how the real market is performing and whether the governments concession on Stamp Duty for First Time Buyers up to £300 000 will make any difference.

Certainly First Time Buyers need some help, the NAEA report that nationally sales to First Time Buyers have in the month of October hit an all-time low. The NAEA also report that demand has overall slightly decreased with the supply of property coming to the market remaining the same. On the front line here in North Devon we are still experiencing good demand for quality properties with good offers close to the asking price being received. There is still some hesitation from vendors to place their property on the market, but if a vendor is considering a move it is worth placing the property on the market over the Christmas period. As previously reported the surge in internet traffic is significant over this time. This is certainly a good time for your property to be seen. We will be open over the Christmas for the working days with just slight adjustment to our hours.

Have a very Merry Christmas!

David Edwards, Managing Director. david@johnsmale.com 

 

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