Market Brief: Market Positivity Continues
2018 has got off to a busy start for us, with both January and February being extremely active months for valuing new properties ready for sale. This activity in York is reflected UK wide; as Rightmove announced that 2018 has seen the highest numbers of active house hunters on record and property prices are 0.8% higher this month, indicating a cautious optimism amongst new sellers.
It would appear that although we still have uncertainties of Brexit and the economy, people are not prepared to wait any longer to move house. Consequently, newly listed properties are generating a lot of interest and selling well, and there continues to be a shortage of new properties coming on to the market.
With the traditionally busy Spring market inching ever nearer, and particularly because Easter is earlier this year, if you are thinking of selling, now is the time to act! The sooner your property is on the market the better before new properties flood the market giving buyers more choice.
We are also noticing more activity from first time buyers, in part due to the government tax changes for second properties which is hitting landlords hard but meaning that more properties suitable for first time buyers are available. This healthy level of interest at lower end of the market will also undoubtedly start to have a knock-on effect higher up.
As we look ahead to Spring, I am hopeful that assuming we are not faced with another general election or referendum, as we have had for the past three years, that we can continue to see a stable and buoyant market.