As 2014 came to a close, December saw the largest ever monthly fall in the price of new homes coming to the market. Despite the decline, property prices were still up by 7% for the year, according to the Rightmove House Price Index.
Initial indications show that the property market is set to slow in 2015. However, the outlook is positive for those contemplating selling their property with many forecasting an increase in house prices. The Royal Institution of Chartered Surveyors (RICS) UK Housing Market Forecast predicts that the UK house prices will see an average increase of 3%. While Rightmove anticipate an increase of between 4% and 5%.
The nationwide shortage of properties for sale, stricter lending criteria and the potential changes in government following the general election are all factors in dissuading some home-owners to bring their property to market. However, we firmly believe that it is still a great time to sell your property with an excess of buyers attracted by low-level interest rates and the recent stamp duty reform.
Miles Shipside, Rightmove director and Housing Market Analyst comments, “In spite of generally positive market conditions, some of the measures designed to restrain and control buyer demand have also curtailed the supply side by damaging the desire and ability of home-owners to place their property up for sale. Elections also add a further element of uncertainty that may deter some from making a major financial decision to trade up or down, so the likelihood is that good quality property will be short supply in higher-demand locations, leading to higher prices where buyers still remain ready, willing and able to proceed. With the average number of properties for sale per estate agency branch at the lowest level ever recorded at this time of year, there is still some scope for growth.”
Selling your property is a journey and at Homemaker Properties our team are eager to guide you forward. Please contact our sales team today by calling 02476 100390 or emailing email@example.com to arrange your free, no obligation valuation and market appraisal as well as advice on achieving that all important sale.