Property sales are a hot topic again, with a rapidly changing economy and with Brexit discussions currently underway. The reality of the situation in Merseyside is that the market is doing fine! In fact, our records show that properties are selling quicker than they have done at any point over the past 3 years, and what's more, volumes of sales in our branches are up almost 10% on last year's figures.
All of which points to a confident local market, values remain consistent in most parts of our regional base with the exception being the inner city Liverpool where buy to let terrace properties sold through our Auction show prices increasing and buyer profile changing from regional to national. Overall during the past 12 months the North West has shown a greater price increase than London and the South East however stamp-duty increase on million pound plus properties is the main factor.
The speed of properties selling is partly down to the scarcity of properties coming to market, a local and national trend. Buyers can only purchase what is available, and as recent reports from industry bodies such as RICS suggest, homes for sale in many areas of the country are approaching record low numbers. The past six months has seen us registering significantly more buyers at all price points than sellers, this results in shorter selling times and also a nervousness about actually putting your own home on the market.
Record low mortgage deals make the market attractive for buyers at all sectors, lower deposit percentages for first time buyers is also a market stimulant. Our in-branch mortgage advisors have mortgage rates fixed for the first two years at close to 1%, rates not seen before.
If you’re on the fence about moving now’s the time to take advantage of our free market appraisal which informs you on price, marketability, speed of move and how to dress for sale, combined with a bespoke house search for your new home. Talk to one of our branches, they’d love to help.
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Rob Farnham
Director
Venmores |
