Following the summer holiday period we have seen higher levels of activity during September and into October with greater numbers of potential home movers taking steps to sell, buy, let or rent.
Whatever your view on the outcome of the Scottish referendum, the result was almost certainly the best in terms of the stability of the financial and other markets and it is very much “business as usual” in the West Berkshire and North Hampshire property market.
The manic levels of activity and urgency seen in the early part of the year have subsided and there has been a slight slowdown in the speed of decision making by buyers linked with the longer mortgage processes being seen following the Mortgage Market Review . This is rebalancing supply and demand and ensuring that house prices, in the main, are starting to level off and do not cause the market to “overheat.”
The increasing stability in the market is also encouraging many to take the opportunity to move and to take advantage of the extensive range of competitively priced mortgage products currently available. As always, seeking professional mortgage advice is vital for everyone and our advisers will be pleased to assist. The lettings market continues to perform well and offer good returns for landlords who take a sensible view on balancing rental income levels with security and quality of tenure.
With more and more tenants seeking well managed properties to rent, the value of our fully managed services are becoming increasingly recognised. With recently released inflation figures at ever lower levels, the economy looks set to continue to grow and see unemployment figures reduce further. There may be growing pressure on income levels and on seeing interest rates rise in the coming months but overall the prognosis for the property market remains positive and now will, I am sure, be looked back on in the future as having been a good time to move.
The major property website Rightmove has recently issued a report suggesting that house prices will continue to grow over the next five years due to an increasing population and inadequate numbers of new homes being built.
This will continue to see demand outstrip supply.
As always the Sansome & George team are here to assist you with your plans and welcome your enquiries.
David G Sansome
Managing Director
