February Market Comment

By in Blog with 0 Comments

Winter may not be behind us yet, but, as far as the property market is concerned, spring is definitely in the air! The latest figures from Rightmove suggest a cautiously positive market. Of the relatively modest 1.5% annual increase in the price of new-to-market properties on the portal, 0.8% of this occurred last month!

This is very much in line with our own observations of very buoyant start to the year, with enquiries from both buyers and sellers on the up. To put this in context, many properties coming to market at this time of year would be expected to be priced at 1.6% higher than the previous month, so 0.8% demonstrates that these sellers are serious about selling.

It is the enquiries from sellers that are most encouraging. Only when more people come to market can buyer demand be satisfied. Some people delay moving because they feel they may not find a suitable property to buy. (This is a shame as we always have “off-market” properties available for these buyer/sellers).

The SDLT (Stamp Duty) break given to first-time buyers has undoubtedly had the desired effect, with about a third of sales going to this group of buyers. This makes so much sense as, according to the Halifax, it costs over 11% more to rent each month, than it does to buy, excluding any capital appreciation! Indeed, according to the Association of Residential Letting Agents (ARLA) the supply of rental properties fell by 8% last month, which will only serve to put more upward pressure on rents.

The momentum has therefore started early this year, possibly due to pent-up frustrations caused by last year’s economic and political uncertainties. Combined with the usual spring rush, 2018 could turn out to be a pivotal year that sees more people who want to move house being able to do precisely that. And OUR job is to help make it happen! So if you’re contemplating a move, your timing could be perfect.

Why not call us for a friendly no-obligation chat on 01242 257333 and let’s turn that snow into go!

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