Market Brief: Housing at the top of the agenda
The Autumn Budget brought some good news for the housing market - first time buyers are now able to buy stamp duty free and there were pledges from the Government to increase the supply of homes to be built.
Earlier this year I spoke to Sajid Javid, Secretary of State for Communities and Local Government, when he visited our offices in Micklegate. He was extremely interested in finding innovative ways to increase the number of properties available indicating how high importance is being placed on building new homes. Although we are starting to see a steady flow of new properties being built in York, this is still nowhere near the 800 or so required every year to meet future demand. Mr Javid was very supportive of York’s local plan which we are all looking forward to hearing more about in the New Year.
Christmas and the New Year is often the motivation people need to get moving and we see searches on the property portals receive 26% more visitors from January through to March compared to October to December. So, if you are thinking of moving in the New Year, the best time to get ready is right now! Nobody wants the hassle of tidying for photographers and viewings over Christmas, but by getting everything ready in December, you can pitch to the new purchasers entering the market at the beginning of 2018.