The Housing Market - Nova News Editorial November 2014
The run up to Christmas is one of the few times in the year that the property market tends to slackens off with less viewings in the 3 to 5 weeks before Christmas as people concentrate on the present buying. All being well we will have done ours way before then. The rental market however never stops with tenants wanting to move in or out of their accommodation on Christmas Eve or Boxing Day if possible.
The next few months could see a change in the housing market. A general election, due in May, always sends the country into a spin. Whatever colour the next government there will still be substantial problems to sort out. The choice of spending your way out of trouble or taxing us to a greater extent or even cutting back further on labour and other costs will have to be made. It will be unpopular with many sectors whichever way is chosen. One thing is almost certain and that is interest rates will rise, they always do around an election, be it before or after. This in turn will affect the housing market.
A quiet period in the sales market may well ensue with buyers and sellers biding their time to see which way the market tips. One thing is for sure, the agents are all reporting a lack of available stock, this will generally keep the market buoyant and I see no likelihood of availability increasing with Christmas, an election and mortgage uncertainty all influencing the market. For sellers this is not always a bad thing, less competition around, and remember one important factor anyone viewing your house at this time of year will be a keen buyer. Nobody wants to go out on a cold dark, wet evening out of choice unless they are keen buyers. The time casual viewers are not about at this time of year, they tend to save their viewing until the springtime.
In my own business I am now pleased to be able to offer a floor plan preparation service. In the meantime, where are the matches, its time to light the log burner.
Andrew Mason Independent Valuer 07507 928008