September Market Comment
I’m sitting typing this and people outside are wearing puffa coats! Not a great end to the summer.
School holidays are now over so maybe now we will see a return to some more activity following the usual August slow down. There does seem to be a certain element of positivity as whatever happens at least something seems that it will now happen. What people don’t like and the property market doesn’t like is uncertainty and no clear direction. I suspect we might have a couple of rocky months but the end should be in sight. Negative growth the last quarter in the country, but I suspect this will be a blip.
From our own viewpoint we have had a good last quarter with lots of property selling and good prices being achieved, even some of the high end properties have been seeing activity. The rental market is suffering from a lack of supply and as a result tenants are finding it hard to find a property, as a result rents are on the rise. Any 3 bed property is high in demand. Still a good sector for investment but as long as a landlord you are prepared and geared up for the long list of new legislation. Treat it more like running a business, its not necessarily easy but it has its rewards. Rents are on the rise so returns are improving.
The RICS forecast is for a minimal growth, but at least not a fall as reported by some. ‘modestly positive’ was the term used. So not all doom and gloom, the next weeks however could vary from week to week.
Any enquiries regarding this article please contact David Edwards BSC MRICS [email protected]