Choosing the right agent is also important when it comes to the perceived pitfalls in the property market. The B word is creeping into more and more conversations and the overriding question is ‘How is Brexit going to affect the property market?’ As far as we are concerned the signs for this upcoming year are positive.
Both financial and property experts are forecasting significantly different impacts dependant upon the area of the country you are in. RightMove are predicting property prices to drop in the London and surrounding commuter belt area by up to 2%. However, in a reverse of fortune, there are expectations that asking prices in the North will increase between 2-4%.
RightMove director Miles Shipside also went on to say about the coming year that “Whilst uncertainty traditionally deters some discretionary movers, particularly at the high end of the market, there are many would-be buyers and sellers who will be getting on with their lives and will be keeping the market moving.”
Looking back at the last twelve months average marketing prices and average sales completion values we can certainly agree with these sentiments. Poole Townsend have seen a 3% increase in both average asking prices and average sales prices, maintaining our 97% offer agreed to asking price ratio. This further cements the fact that the local property market is alive and well.
There will be plenty of scaremongering in the upcoming months but once again the Great British public have carried on with life regardless. The signs of an active market and a productive 2019 are set in front of us and Poole Townsend for one are prepared to make the most of these exciting times.
Please feel free to speak with one of our property experts if you have any questions about the past year or coming months.