Market Trends - July 2016
We have witnessed an encouraging start to the first half of 2016 following a tremendous and unprecedented year within the property market during 2015.
The market has shown signs of continued growth with a variety of property styles and sizes presented to the market this year, whilst there has been range of different values of property introduced.
The first quarter of 2016 had shown steady growth in terms of the sale value and quantity of property sold and that has certainly continued into the second quarter of 2016. During this period, we have witnessed property in key areas selling within a matter of hours, several successful closing dates and an increase of qualified buyers and affordable housing being presented to the market.
As a result of the growth shown within both the economic and property market in recent years, we at Residence have had the confidence to open a third branch in line with market opportunity and client demand.
The recent political events have sparked unrest similar to those created with the Scottish Referendum debate of 2014, clients have understandably admitted they are both nervous and uncertain about the future of the financial and property markets as a result of the recent decision to leave the European Union and “Brexit” strategy. However as witnessed during and after the Scottish Referendum, although there is similar unrest and discontent, both the financial and property market is continuing to strive and financial institutes are continuing to practice responsible lending to ensure the markets are stable.
Continuing from previous years, the property markets between £100,000 and £250,000 have continued to be the highest in demand and the most desirable. The more sought after property styles have become apparent as terraced, semi detached and modern detached villas.
Looking forward to the second half of 2016 we do anticipate further confidence in the market and a variety of more quality and affordable homes becoming available.
If you are interested in selling in 2016 we would be delighted to provide you with an accurate and realistic valuation of your property.