Date Posted: 01/04/17
Well, what a month April was, an extended Easter break and then news of a snap election to be held on June 8th. So what impact has this had on the Hertfordshire housing market?
The Easter break itself is always a quiet time for the housing market as many people use the holiday period to get away, or those considering putting their home on the market carry out various repairs, tidy up the gardens and of course, a bit of a spring clean.
Post-Easter, we are already seeing a marked increase in the level of homes coming to the market and those that are realistically priced are selling fast. Many property industry sources are reporting the lowest levels of stock for many years, however, we are now entering the traditional Spring market so we are already seeing this trend changing for the better.
The election may create a short term blip, as some potential sellers take a wait and see strategy. However, as always, the result of the election will have a determining impact on the property market but early signs are that the market remains extremely positive.
Employment levels locally are very high, interest rates seem set to remain low and the number of new buyers and first time buyers registering with estate agents locally is encouragingly high.
The top end of the market, homes over one million pounds, is particularly active with some Putterills offices selling over four times as many properties at this level in the last six months than in the equivalent period last year. The family home market, between £500,000 and £800,000, is also very active and a jump in the number of first time buyers has meant strong demand up to £300,000.
The lettings market continues to remain buoyant with strong demand from tenants and a shortage of high quality properties to let.
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