BN16 Market Review January/February 2012 Market Report feb 2012
January 2012 has started with a bang
- 74% more new buyers registered compared to last January
- Cooper Adams' sales were up 8x on last January
- Realistic sellers are taking advantage of the strong demand and low supply
Now Spring is approaching and the evenings are getting lighter the housing market is definitely more positive, despite the negativity from the government and the Eurozone.
Reviewing January – traditionally a slower housing month, refreshingly we have experienced a very buoyant period helped by some favourable mild weather (for January).
A pleasing, but much needed, statistic – housing stock increased by some 11% with many home-owners deciding to take that new year step of entering the market place. This has still resulted in a drop of 0.5% in asking prices; probably wise as an inflated price will just result in wasted time on the market, although nationally prices rose slightly.
The market place still remains strong, with still more properties required for waiting buyers. There was an increase on fresh buyers registering with ourselves – noting a massive increase of some 360% on this time last year. With the increase of buyers, personally we have experienced a record January for sales agreed with a significant surge on properties going under offer.
With the Letting market showing no signs of slowing and still monthly rental figures strong, many tenants who perhaps were holding back are now looking to buy seeing this as a cheaper option with the rock bottom interest rates. We would perhaps suggest: if the right property, at the right price, does come available it is probably wise not to delay as someone else could just step in to secure a purchase.