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Market Comment January 2017

With all that’s going on in the world I am guessing people want to know what’s happening at the coal face of the property industry. We certainly felt the impact of change last year but have not seen a dampening of confidence since we have been back at work in the New Year, far from it. People seem to be fairly bullish and activity is good with several sales being agreed. There is still a shortage of stock so maybe some people are sitting tight and waiting to see how things unravel. But if you are a vendor undecided I would suggest now is a good time to sell. However, in the market we have seen a dip in the Buy to Let market, with all the regulations with lettings and the tax implication some seem to be holding back. Use of a good agent will make management a bit simpler, as private landlords do need to do their homework as there is quite a lot to learn.

We predict the market to remain stable; Halifax shows the market change for December nationally to be 1.7% with annual growth over the year to be 6.5%. Due to a shortage of housing stock, we predict demand will be good for 2017 keeping the prices stable despite political uncertainty. 

 

David Edwards MRICS MARLA

david@johnsmale.com

Managing Director

 

Mayfair Office Group See our properties on onthemarket.com