February was a month for lovers. Valentine’s Day with its traditions of Cupids, hearts and flowers and, being a Leap Year, an additional day on which a lady could ask a man to marry her.
At Sansome & George it was also a month where we are delighted to report that that the property market for both sales and lettings has been both busy and productive.
With romance in the air, February also proved to be a month for lovers of property as the UK’s leading property portal, Rightmove, became the UK’s 7thmost visited website and overtook the BBC in terms of visitor numbers. This is a very clear sign that the property market remains buoyant and that interest in moving home is high.
At Sansome & George, all of our properties are advertised on Rightmove as well as many other major property websites. Our clients can therefore be confident that their properties are being exposed to the widest possible marketplace in search of a buyer or tenant.
Enquiry levels remain strong and of good quality with it seemingly only being those people who are serious about moving registering and viewing. I fully expect sales figures in 2012 to be at, or just above, 2011 levels with less property simply remaining on the market unsold, unless it is priced unrealistically.
Realistic pricing and good marketing are key factors in achieving a successful sale and our experienced team will be pleased to advise you on the best approach to maximise value within your required timescales.
Nationally there is evidence of a slowing in the rise in rental values and an increasing volume of arrears developing. At Sansome & George we have always worked with our landlord clients to ensure that we get the best possible tenant and therefore look to avoid issues later on. Getting the balance between maximum rent and security of tenancy remain key to a successful letting.
March will, of course, see George Osborne deliver the Budget and, although there will clearly be little room for any major initiatives for the housing market, it is to be hoped that the Government’s austerity approach continues to ensure we benefit from a low interest rate economy.
The base rate has been at 0.5% for 35 consecutive months and this has undoubtedly helped keep repossession numbers low and encouraged those who are able to invest further with greater numbers of buy to let purchases than ever before.
Overall, the market is active and sales and lets are being made. Overly optimistic sellers and landlords may struggle a little as buyers and tenants are committing but are discerning in their choices.
March looks set to spring forward as we open our flagship Basingstoke office and build on the good foundations already laid in January and February.
David Sansome
Managing Director
