This year, September reveals a mixed bag on the property scene. On the one hand, nationally, the number of new property listings in the UK fell by a whopping 13.2 per cent last month*. On the other hand, the latest figures by UK Finance suggest a strong growth in first-time-buyers – up 5.8% year on year.
Certainly the number of new-to-market properties traditionally declines over the summer months, but this usually ramps up again in September. It will be interesting to note if this turns out to be the case this year in view of the political uncertainties of Brexit and a possible election on the cards.
Having said that, the overall low volume of transactions is supporting house prices nicely, as demand continues to outstrip supply. London prices are rebounding (possibly fuelled by foreign investment taking advantage of a weaker pound) and this sends positive ripples throughout the rest of the country.
Most people who are currently buying or selling are doing so because of a real reason that affects their life and lifestyle preferences. While the little-understood implications of Brexit (which may or may not happen) directly affect some people, the vast majority of homeowners are more interested in pursuing their own plans irrespective of the eventual outcome.
This practical and spirited attitude is indicative of a British public who continue to believe passionately in bricks and mortar. Property ownership is a fundamental element of our national character and here at Oakfield Estate Agents we have been pleasantly surprised at the activity levels during late summer. There is an urgency in the market from buyers and we are pleased that we continue to attract more than our fair share of stock – bucking the national trend for sure!
Why not join other happy sellers, especially if you’d like to move by Christmas and we’ll do our utmost to make it happen for you? Please feel free to call your local branch today for a free no-obligation marketing proposal and you too could be taking advantage of these interesting times!
Neil Newstead, FARLA MNAEA MIRPM
Chief Executive Officer