2017 has started positively with greater numbers of enquiries and interest from sellers and buyers, landlords and tenants who are looking to move in the weeks and months ahead.
News about Brexit and Donald Trump and the somewhat cold weather have not impacted adversely on activity as people choose to get on with their lives and carry through with their property plans.
The period between Christmas and the New Year saw the usual surge in internet viewings and this is now beginning to translate from virtual to real activity.
The property market for both sales and lettings is therefore active with prices having adjusted following rapid growth in recent years. There remains more demand than supply overall but buyers and tenants are constrained by affordability issues and it is sensibly priced stock that is attracting offers and where transactions are being made.
Mortgage rates remain at historic lows and the opportunity to fix borrowing costs for a number of years ahead is an attractive proposition for many as it allows for better planning and control.
Whilst the longer term economic position for the UK with Brexit remains to be seen, we detect a growing feeling of optimism and confidence. Unemployment levels are still reducing and wages are growing slightly ahead of inflation. The road ahead is bound to have some pot holes in it but the underlying strength of our economy looks positive.
To conclude, we see a “steady as she goes” market in 2017 and there appears to be no reasons for anyone thinking of selling, buying, letting or renting to hold back from their plans. Supply of property stock in the market is growing and we expect to accelerate in the weeks ahead, this will provide greater encouragement for those looking to buy or rent.
