Post-Royal Wedding, Post-Plethora of Bank Holiday Weekends, Post-School Holidays, How Has the Property Market Been in May 2011?
I’ll be honest: April 2011 was a disappointing month in the property market. The holidays and other distractions certainly took their toll. National property websites reported that the total number of properties coming to the market was significantly down on the numbers that could normally be expected in this month. So how has May fared?
Well, the good news is that activity levels are right back up again and have rebounded after the drop in April. The number of property buyers registering with us on our database of ‘active’ property buyers was back up to record levels and the number of properties coming to the market returned to March 2011 levels. The number of offers being received has also been faring well in comparison to the previous month so I’m glad to report that it’s ‘business as usual’ again.
Reports this month of falling house prices across the UK aren’t what the (house) doctor ordered but the big question is of course whether these trends apply to your area as well as across the UK. For what it’s worth, I have to return to my normal mantra of property markets being very local and emphasise that not too much attention should be paid to UK-wide statistics. For further reaction to this point, please click here: http://www.mov8realestate.com/blog/item/75-halifax-reports-14-property-price-fall-in-april-2011.html
There really isn’t a huge amount to report this month in terms of trends or prices because not a huge amount has changed. In the longer term, the question is: where are house prices headed? Of course, one can only provide predictions based on experience, but for an in-depth analysis of the effect of lack of funding for First Time Buyers on the wider market and on property prices, please see an article that I have just written on our blog: http://www.mov8realestate.com/blog/item/76-first-time-buyers-fear-theyll-never-get-on-the-property-ladder.html
In the meantime, if you have any questions about the property market or about putting your own property on the market, please just drop us a line!