Market Trends - A superb start to the year
Following on from an extremely successful end to 2013, we have been particularly busy in January and February with many of our homes selling at closing date and with almost 50% of our sales achieving home report or above.
Regardless of what goes on in the financial world, people still need and want to move house whether it be moving up or down in price, moving for that new job or that new relationship, the necessity or desire will always be there.
The last quarter (Q4) of 2013 saw the most significant positive increase in enquiries and sales with an uplift of 43% in this period. December was the most surprising and positive month with fourteen sales including two sales on Christmas Eve, bolstering the fact that the market is no longer as seasonal as it used to be. Whilst we have not seen a great rise in property prices as yet, we are seeing average sales times falling, our client database rising and more and more closing dates.
The markets between £100,000 and £250,000 continue to be in highest demand whilst the most desirable property style are detached bungalows. We have a significant number of clients on our database looking to move from larger homes to the smaller bungalows and last year we successfully achieved several "off market" sales of such properties. The investor market has taken a significant uplift as banks release more money and as lending criteria becomes more relaxed.
Looking forward to 2014, we expect and anticipate the market to continue to increase in confidence. If we compare the market with last year, we predict the first three months (Q1), to start with a bang. Our stock levels have fallen significantly due to the amount of sales in the later part of 2013 therefore if you are considering selling your property in 2014, please contact us and we will be delighted to provide you with an accurate, honest opinion and advice on how to get the best possible price for your home.