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Industry News January 22, 2020

Local Property Market Enjoys Boost In Activity

Following the election, Keats Estate Agents in Haslemere has noticed an uplift in activity across its sales and lettings departments. The team believe sellers, buyers and landlords all feel a sense of stability and are therefore more confident about the housing marketing.

Keats is not the only agency to have enjoyed a positive start to 2020 according to Rightmove. In the immediate aftermath of the election, between 13 December and 15 January, the number of sales agreed increased by 7.5% compared with the same period a year earlier, Rightmove said.

The property portal also revealed that UK house prices rose over the last month at the fastest rate on record for the time of the year. The average price of properties coming on to the market jumped by 2.3%, the biggest rise for the period since Rightmove launched its house price index in 2002.

Miles Shipside, a director at Rightmove said the election result had provided a “window of stability” for potential movers after a period of instability since the Brexit vote, which had caused some to put off a move.

He said: “The housing market dislikes uncertainty, and the unsettled political outlook over the last three and a half years since the EU referendum caused some potential home movers to hesitate. There now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market.

“While there may well be more twists and turns to come in the Brexit saga, there is now an opportunity for sellers to get their property on the market for a spring move unaffected by Brexit deadlines.”

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