PAUL GILLESPIE ON THE LOCAL PROPERTY MARKET “side-valuation-button"

09 Sep 2016

PAUL GILLESPIE ON THE LOCAL PROPERTY MARKET

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Britain's back to work, the kids are back at school and autumn will officially be here next week; even if it doesn't quite feel like it yet!

As the dust begins to settle following the referendum, we are starting to see more optimistic headlines in the media. The stock market has been rising steadily, employment rose to a record high in July, Sterling is at a two-month high and economists are growing more confident that the UK will avoid recession. These indicators suggest that the UK is emerging from the shock of the Brexit vote.

For the housing market, many of the fears of the impact of Brexit have subsided and there is a renewed sense of optimism. We have seen an increase in new buyer registrations, and properties that are priced correctly are receiving considerable interest and offers at asking price.

What does last month’s base rate cut mean for mortgages?

The Bank of England’s decision to cut the base rate for the first time in 7 years to 0.25% was seen as welcome news for borrowers and mortgages; particularly those on a tracker mortgage, first time buyers or anyone looking to remortgage.

However, as mortgage rates are already at historic lows, many lenders profit margins have been squeezed to a record low, leaving little room for further reductions. Prices are coming down though and if you would like to find out if you could get a better deal, speak to one of our advisors at The Mortgage & Insurance Bureau. Contact the team on 01895 622700 or email info@tmib.org.uk to see if they can help you reduce your costs.

The rental market remains buoyant

Rental prices are stable although we have seen a fall in buy-to-let demand in Q2 which comes as no surprise following the Government’s changes to the residential rental market. There is still plenty of interest from all sectors of the market and family homes within close proximity to good schools continue to prove very popular.

What makes autumn a great time to sell your property?

Our website statistics show a real increase in activity through September. By this we mean the number of buyers visiting our site searching for property to buy. These visits really start to drop off the closer we move towards December. With approximately 14 weeks remaining before Christmas is upon us; if you want to move before the end of the year, getting your property onto the market now is the perfect time. The weather is still good with lots of sunshine and blue skies so why not use this to your advantage by getting great photos that will help your property stand out from the competition!

If you are planning on moving this autumn we can help:

  • We give you comprehensive online coverage on Rightmove, Zoopla and gibbs-gillespie.co.uk.
  • We provide you with exceptional property marketing including professional photography, floorplan and premium listings on the portals.
  • Our team of friendly property experts will keep you regularly updated on progress and answer any concerns you may have.
  • As members of the Relocation Agent Network, we are able to offer our clients the best service possible if you are looking to relocate. We can put you in touch with our trusted partner agents in your preferred search area, which can prove invaluable when moving to a completely new location.

With 25 years’ experience in the local property market, we are committed to helping you move. If you are thinking of selling or considering renting your property, or if you are simply seeking some advice, we would love to help. Contact the team at your local branch or pop along and speak to one of our property experts in person.

We look forward to speaking to you.





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