News 15.01.10
Contacts
Dacre, Son & Hartley see sales double.
Yorkshire’s award winning firm of independent estate agents, Dacre Son & Hartley is reporting that the housing market in the region has continued to improve over the last quarter.
Patrick McCutcheon, head of residential sales at Dacre, Son & Hartley says: “We are delighted to report strong sales figures across the firms 19 offices which are just over double what they were for the same period in 2008 with good activity in the majority of sectors.
Patrick believes that peoples’ confidence in the housing market is also much improved and this is reflected in a significant reduction in the rate of sale fall throughs in comparison to the autumn of 2008. He says: “We have seen pretty much continuous transactional growth since January 2009 and these recent sales figures suggest that as long as vendors remain realistic about pricing, sales levels will continue at the present rate - subject to the normal seasonal variances.”
Dacre Son & Hartley is predicting that values will fluctuate during 2010 within a band of plus or minus 2%, with much of the difference driven by traditional seasonal changes. Patrick says: “As ever, each sector within the market will follow its own trends with supply and demand impacting on price. Currently and as a reflection of the more buoyant autumn, there is a relative shortage in a number of sectors and we believe this will continue, especially if those in rented acommodation perceive the market to be at its nadir and thus take the opportunity to re-enter the market.
“Activity within the first time buyer sector remains the most cautious. This is the sector most driven by the availability of positive lending and the recent FSA announcements about changes to borrowing could be a cause for medium term concern. We can see a more consistent level of supply and demand emerging for properties in the £350,000 to £600,000 price range and transactions in this area of the market should increase this year particularly if the financial institutions increase lending.”
Dacre Son & Hartley predicts that the recovery will be a long term process and that the general election will no doubt have an impact on the market. Patrick explains: “The forthcoming election is likely to dull the market for a month or so prior to polling date, but that is likely to be followed by an upturn from voters riding on a post election bounce. Debates over stamp duty and VAT will no doubt cause buyers some concern but, with a sensible approach to pricing, we believe that the market will continue to improve throughout the year.”