Home Sales Highest for Six Years

The Royal Institution of Chartered Surveyors (RICS) have confirmed that an average of over 21 properties per estate agency were sold and subsequently recorded in the final three months of 2013, the highest since March 2008.

As touched upon in our article in November 2013, it is thought that this is a direct result in there being fewer properties available compared with the soaring demand. 

There have been concerns that without the input of new properties to the market that some areas may experience an unsustainable property market and predictions range price rises of between 4% and & throughout the course of 2014. This of course can be a double edged sword, particularly if you are looking to sell and purchase simultaneously, as what you gain on the sale may be swallowed up in the purchase property. 

The news from the larger house builders in England appears to be positive, with Bovis Homes stating that their development sales and forward sale (part exchanges) having been subject to big rises, and this is expected to continue throughout the year. 

Also to be factored is the Help to Buy Scheme, which has been extended to assist purchasers in obtaining a mortgage product. The scheme will directly aid those with the means to afford the monthly mortgage repayments, but with limited or little deposit in place. 

Here at RDC, we can certainly feel movement in the property market and continue to offer our clients a first class personal service, having just achieved excellent numbers of completions and satisfaction levels during an exciting pre-Christmas rush. 

For all your property needs, please contact RDC Solicitors and speak with Lynette Norris or Ian Haynes.