Market Comment February 2019

The first few days back from Christmas were very quiet, but gradually over the month of January activity has been creeping up with sales being achieved and the lettings market back to full throttle! It is still uncertain times with the big question over Brexit which is causing people to press the ‘pause’ button for now. This is more from the vendors than the buyers. Some buyers are still very keen to but are not being offered enough opportunity to buy. Full prices are still being achieved. We suspect there is a pent up amount of activity waiting to happen and will do once the political situation is a little clearer. Maybe end of March or April. Prices from our viewpoint haven’t changed too much in the local area, the good news they don’t seem to be going down! Rental prices however do seem to be rising as the lack of supply of properties continues to fall as more legislation puts landlords off this sector. There is strong rental demand in this sector. Halifax report a 1.3% annual house price growth over the last year with a forecast of something similar for 2019, although there range is 2%-4% depending on the Brexit situation. Reports still say there’s a general low supply of housing on the market. This does tend to keep house prices higher. We wish everyone the best of luck for this year. We are always happy to help with any property queries. David Edwards [email protected]