Welcome to our Autumn Newsletter...

Merseyside house prices are beginning to slowly increase which reflects the national trend documented in the August 2015 RICS Residential Market Survey, results locally and nationally highlight new buyer enquiries which are exceeding the available stock.  All our offices have reported six consecutive months of increases in prospective new purchasers significant increases in viewings and sales. RICS report most parts of the UK continue to see rising demand, led by significant improvements in the West Midlands, the North West and Wales.

For the first time since 2007 it’s a good time to be a home seller, the only area not showing signs of significant recovery is above £1 million where supply exceeds demand. Our Financial Services team report that The Mortgage Market Review (MMR) had an impact on tightening the criteria for large mortgage loans although we are beginning to see the shackles being released as the reform was just too stringent.

Within the City Centre student driven summer market we had over 1500 applicants registering within a six week period, almost double last years numbers, overseas students make up a significant proportion of the applicants with UK based students making their decisions earlier. The city landscape is changing an abundance of new student blocks; the traditional student areas are suffering fueled both by City nightlife and the quality of new accommodation. Our dedicated students letting team have had a busy month.

The Auction market continues to flourish supported by an increasing volume of new Buy To Let Mortgages supporting the first time and professional landlord. The product choice is very broad now for mortgages with over 12,000 products available in comparison with 3,300 in 2010. It really is worthwhile speaking to one of our Financial Services experts to guide you through a complex market.

In summary, 2015 has recovered nicely from the traditional pre-election lethargy and looks like it will be a stronger year than 2014.

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