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PROPERTY MARKET UPDATE FEBRUARY 2022

PROPERTY MARKET UPDATE FEBRUARY 2022

Residential News | Mon 14 Feb 2022
More News
Now the days are starting to get noticeably longer it seems as good a time as any to give an update on late Winter trading activity.

The overriding message is there continues to be a considerable amount of positivity within the property market:-
  • Market appraisals are up
  • Sales are up
  • Stock is starting to run through the market
All against a background of retail price inflation and a relatively modest increase in interest rates over the last quarter.

It is clear that demand continues to outstrip supply, but the housing market does seem, thanks to a palpable increase in supply, to be moving towards a balance where there is a slow but steady increase in opportunity for buyers. I believe this trend will give greater confidence to those who are undecided as to whether to put their home up for sale, given there is now greater choice for an onward purchase.

You can find out more about our general view of the UK marketplace here.

For those who are contemplating making a move but are not yet ready to take the plunge, I would heartily recommend getting sale ready. Let us do the background work now - check the EPC is current or order a new one; undertake anti money laundering checks; prepare the brochure and floor-plan and obtain your approval. With all of this in place we can react almost instantaneously if your ideal new home suddenly comes up for sale and you want to get moving in a stress-free manner.

Top service
I’m delighted to let you know that we have won a Platinum Trusted Service Award from Feefo - one of the UKs leading review sites. This follows three gold awards for the last three years running, with over 300 customer reviews giving us an average score of 4.8/5. This is great recognition of the high service standards we aspire to provide.

Survey advice you can rely on
Lastly, I would like to reiterate the advantage of obtaining a full survey on your onward purchase. Loan valuations are primarily driven by the lender to ensure their lending is secure. 

Lenders’ surveys are not an in-depth survey of condition of the property and an increasing number are being undertaken as a ‘desk top’ exercise without any physical inspection.

Our survey team can undertake a broad range of reports, and if we can’t do a survey on your new purchase as we are selling it, we would be pleased to recommend like minded professional survey firms. Just give us a call on 01943 885400 for a survey quote.

Patrick J McCutcheon FNAEA
Head of Residential

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