Property Market Overview 2016
2016 is predicted to be a similar market to 2015
Property is once again a hot topic of conversation this year, whether it is amongst the politicians or across the family dining table. The government has pledged to build more houses, enabling more people to own their own properties; first by looking to build more affordable homes and second by reforming stamp duty to investors and second home owners, giving the first time buyers a financial advantage.
With interest rates remaining stable and predicted to do so for the foreseeable future, mortgages will remain affordable. However, the strong demand for properties matched with a lack of supply only means one thing; that we will see a further increase of property prices in 2016 and our prediction is that it will be similar to last year’s national average growth of 6-7%.
The year has started as predicted with people choosing bricks and mortar as a good way to invest their money, whether it be a first time buy, an investment buy to let property or extending the current mortgage and moving up market.
Our advice for all buyers and sellers is to;
• Do your research first
• Seek good mortgage advice from an independent advisor
• Prepare yourself and your property before going on the market
• Seek advice on all the stages involved in selling, letting and moving from a reputable high street estate agent.
For more advice on entering the market for the first time in 2016, read more here.