April 2018 Market Comment

By in Blog with 0 Comments

Historically, the fresh green leaves on the trees and the warmth of the welcome spring sunshine herald a spring in the step for the property market. And this year seems no different, despite its wobbly start! The fundamentals are certainly there to support an optimistic outlook – inflation has fallen to a healthy 2.3% and unemployment is at its lowest for 40 years.

The initial economic upset following the Brexit referendum appears to have “washed through” and global growth is also booming. Wage growth is at its highest for two-and-a-half years and people are clearly confident about their personal finances – a key component when considering a house move. In fact, they are potentially so confident that it looks like the Bank of England might just keep this in check by considering a rise in interest rates next month. But don’t worry – any increase is likely to be relatively insignificant for most home-movers.

You may have read that house price growth has been slowing. This is true – but note that prices are still rising, just not quite so strongly as previously, with national averages being dragged down by the tighter London market. The rate of growth has remained below 5% per annum since the beginning of last year, with the average price now standing at £225,000 (London £472,000). Rightmove figures indicate increasingly strong buyer interest, but with a subdued rate of annual asking price increase, suggesting buyers are increasingly price sensitive. This is borne out by the fact that the number of viewings per property is on the rise too (up from 11 last year to 19 today according to one survey, although we find it generally takes nowhere near that number of viewings before we receive an offer).

Perhaps we therefore have as near to a balanced, “normal”, market as can be expected, although we still have far more buyers than properties to sell. Can you help?? If you are contemplating a move – somewhere bigger, smaller, quieter or more convenient, now would be an excellent time to take advantage of the spring market. Why not call us for a friendly no-obligation chat on 01242 257333 or 01452 597994 as we’d love to help you move.

Share This
George Tatham-Losh

Since forming the business in 2009, our founder, George Tatham-Losh, has become highly regarded as the local go to expert for advice on maximising property values and getting the most out of property investments, regularly speaking at events and holding well attended seminars. Born and raised in Cheltenham, George knows the town and County like no other and knows what works in the area. Alongside George is a specialist team of agents with a wealth of experience to help you sell, buy, let or rent property in Gloucestershire.

Blog Post Disclaimer

This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the blog owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual.

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

Downloadable Files and Images Any downloadable file, including but not limited to pdfs, docs, jpegs, pngs, is provided at the user’s own risk. The owner will not be liable for any losses, injuries, or damages resulting from a corrupted or damaged file.

Comments Comments are welcome. However, the blog owner reserves the right to edit or delete any comments submitted to this blog without notice due to :

  • Comments deemed to be spam or questionable spam.
  • Comments including profanity.
  • Comments containing language or concepts that could be deemed offensive.
  • Comments containing hate speech, credible threats, or direct attacks on an individual or group.

The blog owner is not responsible for the content in comments.

This blog disclaimer is subject to change at anytime.

If in considering action upon the contents of this blog, one should always seek professional advice.

We Won Banner We Won Banner