Market Update: August 2017

No-one can fail to have noticed that the roads are easier to navigate in the mornings and evenings which is a sure sign that our schools are into their traditional summer break.

The period between late July and the beginning of September is, of course, prime holiday time with many people jetting off for a couple of weeks in the sun or finding other ways to relax with families and friends.

It would be easy to think that this would signal a quiet time for the sales and lettings market but, in reality, it is also a time when many more people are around and able to put time and energy into their property plans. A recent report from the National Association of Estate Agents indicated that the number of house hunters increased by 10% between May and June. UK Finance also reported that gross mortgage lending increased by 9% in June. These are both positive indicators of an increase in activity.

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It is therefore an excellent time to secure a sale or letting and our proactive team is making sure that no opportunity is lost to generate a transaction.

Summer 2017 sees the political uncertainty of a few weeks ago subsiding as people get on with their lives and with properties and gardens looking at their best, the longer days provide excellent opportunities for daylight viewings.

Prices have been adjusting for some time and a greater degree of realism now exists that is seeing buyers and tenants committing and pushing forward with their moving plans.

Mortgage interest rates remain low and excellent opportunities exist to secure an attractive fixed rate loan ahead of a likely increase in rates in 2018.

Commitment from those in the market to sell, buy, let or rent is increasing and looks set to continue. This bodes well for a strong summer period and second half of 2017.

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