Confidence is building in property market - Quarter 2 Update from TwentyCi

Every quarter TwentyCi produce a National Property and Homemover report which provides insight into the people behind the numbers within the property market. Some of the key elements reported on are:

·         Factual data (not modelled or sentiment-based)

·         Full market coverage

·         Demographic overlay

·         Property sales data

·         Property rental data

·         Real-time data

There are four or five key points that were evident in quarter two. #

1)      Confidence is building – “With new instructions up nearly 7% year on year, house, prices remain stable with no significant discounting. This ongoing stability suggests we could be starting to see the green shoots of a recovery in confidence, from both buyers and sellers.”

2)      London remains an enigma – “London continues to operate its own unique property, ecosystem. The average asking price is up 3.1% in Q2, an increase seemingly generated by a lack of available properties.”

3)      Smaller homes are the biggest sellers – “Terraced and semi-detached houses continue to make up the largest proportion of property sales, accounting for over 55% of all exchanges in Q2. Both housing types have grown in the last year, driving growth overall.”

4)      The Silver Economy is going from strength to strength – “Baby boomers’ appetite for property continues unabated, with exchanges up 10% year on year, fuelled by a combination of final salary pension schemes, pension drawdown and equity retrieval, as well as wealth accumulated in property.”

You can read the full report here.