Newsletter Issue 11 - March 2014

House sales within our North West group have been much stronger in the first two months of 2014 than any corresponding opening two months since 2007. The combination of more readily available mortgages, the publicity associated with the Government help to buy scheme combined with a general level of optimism about the economy have all helped. The biggest single factor has been the good news stories in the press about increasing house sales and values. Whilst the main newspaper headline grabbing price rises are still south east driven the shortage of good quality stock is beginning to make prices creep up in the first time buyer market in our area. The mid priced market across the region is stable and the luxury £1m plus end is still very much a buyers market. The auction market is unbelievably strong with over 90% of units offered selling at our recent auctions. Investors are appearing at our auctions from different parts of the country attracted by good yields and a ready stock of tenants. At our last auction we sold a house in Huyton for 18% higher than it had been for sale for through local estate agent for the previous nine months which highlights the different type of buyer that the auction reaches. Within the rental sector the private sector market has remained strong despite the increase in house sales, this appears to be at the expense of the social housing market which is beginning to feel the after effects of the bedroom tax changes in benefit that have meant more voids for longer periods. The continued forecast for low interest rates make for an attractive market for buy to let investors so in each sector of the business we have a degree of optimism for the year ahead. I hope you enjoy the rest of our Newsletter and if you have any comments to make, please do send us an email and we'll ensure we get back to you. Rob Farnham Chief Executive, The Venmore Group

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