This year is a leap year – the 29th February only occurs every four years…
So, peeps houses prices locally are holding up, and ok though the rate of growth can hardly be described as electrifying, it is a rise and we can all agree on it being price sensitive. Our recent articles support this and it clearly identifies when any property is priced according to market conditions it will trade with the consumer. It sounds like we can probably say with some confidence that it is a buyers and a sellers’ market, and I quite like that. More than ever our customers are relying on the information a feedback we offer and are therefore very open to do whatever is necessary to facilitate a sale.
Where are we now in spring 2018? It is more than three years since the overhaul of stamp duty, so the market has had plenty of time to adapt to the new environment. Current transaction levels suggest high rates of stamp duty are unlikely to change, unless we have a wider review of property taxes. Everyone is Brexit fatigued and are bored of that, buyer sentiment across the prime markets is expected to remain sensitive for the next few years, but long-term prospects do appear favourable. I believe our local housing market will remain discretionary, if the property is attractive it will sell. If it is not well it won’t. The fact that both activity and values seem to be maintaining a stable trajectory does underline the strength of consumer confidence in bricks and mortar, so being stable and consistent is good, we like that.
Our advice is when it comes to looking after your money, consider harnessing the power of residential property. As ever, those who stand to gain the most will be those who work with a local market expert like Lock & Key who specialises in selling properties at the very best price the market will allow. By choosing Lock & Key to sell your biggest investment you will give yourself both a tactical and strategic advantage.