It’s fair to say that 2016 was a very eventful year, the key discussion points being Brexit, Trump and stamp duty. This obviously caused quite a lot of uncertainty in the property market and this will continue to ripple over the coming year. However, from a house selling perspective our sales were only marginally down on 2015. It is important to not lose site of the fact that people’s lives will still move forward whatever happens in the world with marriage, deaths, divorce, moving with jobs or simply up-sizing and down-sizing homes.
With a predicted shortage of houses coming to the market alongside increased demand together with some still very attractive mortgage rates, this means the 2017 market will remain robust. Admittedly there will still be caution being exercised by some who will prefer to sit tight and postpone any plans to move, but there will also be people who want to take the opportunity to buy whilst mortgage rates are so low. It is easy to forget that property is a long-term investment and not just a monthly mortgage payment and it is useful to really think about the growth property can provide over a longer period than just a year. Certainly, over the next 5 years, house prices will rise and are predicted the rise by around 2% in 2017 alone.
Our advice is to market your property as soon as you can – and use an established local agent who knows the market demands as well as the areas. York has always been and remains a desirable area to live with a good range of property to meet all levels of demand and budget requirements. There will be some uncertainty in the market in the months when article 50 is invoked and the plans for Brexit finally unfold, but this is not predicted for a while yet. So, this provides an opportunity to launch York properties to the market and get a good few months of marketing underway to enable vendors to capitalise on current high levels of buyer demand.
If you are considering selling in 2017 we can offer a free, no obligation valuation together with competitive selling fees of 0.75% plus VAT. Currently in our ninth year of trading with over twenty years’ experience of estate agency in York, we have always remained transparent about our fees and levels of service. Please contact us if you would like to discuss this further.