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Housing transactions move upwards as the year begins

Monday 25 Feb 2019

Housing sales remains broadly positive (ring today for a valuation)

Richard Donnell, research Director at Zoopla said “the background for housing sales remains broadly positive with employment levels hitting record highs, continued low mortgage rates and growth in first time buyer numbers”

“The annual increase in property transactions is a reflection that, despite uncertainty, households continue to make decisions to buy and sell a property”

Miles Shipside, Rightmove Director and housing market analyst comments “longer daylight hours and green shoots appearing in gardens heralds the start of the traditionally more buoyant spring market”

Buyer affordability is on the rise

Sellers’ subdued pricing is now being outstripped by higher average wage growth, meaning that buyer affordability is on the rise at the fastest rate in nearly eight years. Buyers are also being given the leg up by cheap mortgage rates.

He continues “market conditions are more favourable for sellers further north, though agents say that it is still a very price sensitive market where asking too much at the outset scares off buyers”

This north’s market conditions are  backed by the National House Price Index that shows, Yorkshire and the Humber have seen an annual change of plus 3.6%, with an average time to sell taking 76 days – the fourth fastest region in the Uk.

Free market appraisal

So … If you are looking to sell your home in the buoyant spring months then call David Phillip Estate Agents for a free valuation t: 01134 676 400


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