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Michael Wright's Market Update

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Sat 24 Oct 2015

Michael Wright's Market Update

 

As we enter November, the daylight hours are shorter and, whether we like it or not, the advertising which we see every day turns more and more towards Christmas.

The property market in sales is now largely focused on getting current transactions across the line before Christmas, with many seeking to use the holiday period to settle in to their new homes. There are still some sales being arranged with a view to a fast completion but, for the majority, it is now planning to hit the ground running for 2016.

We are undertaking many market appraisals for people who are looking to move next year and, in some cases we are getting property details and photographs prepared in readiness.

There is actually around 15% of the year remaining and this can be a good time to bring a property to the market as, inevitably, there is a slight reduction in property stock for sale and properties therefore get a better chance of “standing out from the crowd.”  There are still plenty of good quality buyers around who are actively looking to secure a new property.

The rental market is always faster moving in that a property placed on the market can, if the rental level is right, be let and occupied in days rather than weeks and this continues to be the case now.

Demand from good quality tenants, often seeking fully managed properties where they know that any issues will be quickly resolved, remains strong and this market is buoyant.

With any threats of interest rate rises having abated slightly in recent weeks and now not looking likely until mid-2016 at the earliest, the majority of the people we speak to are confident about the market and committed to the moves they intend to make.

 

Our team will be pleased to discuss, in confidence, your particular circumstances, arrange a free market appraisal and advise on how you can maximise a successful move.