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2019 Market Comment

2019 Market Comment

Date Posted: 12/02/19

Hertfordshire Property Market gets off to a Strong Start

Putterills are delighted to announce a stronger than expected start to 2019, with many offices reporting figures well above the same period last year.

Managing Director Mark Shearing said “Overall, we are cautiously optimistic about the property market over the coming months. All of our offices have seen a marked increase in the number of valuations, instructions and new buyers registering since the turn of the year”.

“Our Stevenage and Welwyn Garden City offices have seen a surge in the levels of sales being agreed in January and in Hitchin, Knebworth and St Albans we have seen far more property coming on to the market, with this already resulting in more viewings and strong interest”.

Mark continued, “The key to selling remains at sensible pricing, with those homes that are optimistic in their pricing seeing much less demand. Most buyers are doing their homework and are happy to pay a realistic price for homes, but those that are ambitiously priced run the risk of going stale! Currently, property in the £400,000 to £800,000 price band seem to be getting the most interest and this is soon expected to feed through to higher-end homes”.

Our New Homes department is particularly busy with no less than 20 sites currently live offering over 200 homes to choose from. These homes range from apartments to luxury family houses in prime village locations. Many of our New Homes sites have the Government’s “Help To Buy” scheme available, which helps all buyers(not just First Time Buyers) with their deposit towards their next home.

Rightmove reports that new enquiries are up by about 5% so far this year and the overall level of sales decreased by just 1% nationally last year.

Whilst Brexit remains a concern for some, most buyers and sellers seem to be ignoring it for the time being and there is a possibility of a marked increase in the level of transactions once it is all finally resolved.

Our Land team have been extremely successful so far this year with identifying new development opportunities, which will help ease the shortage of New Homes needed to satisfy demand over the coming years. 

The use of online-only listing agents seems to be on the decline, as many sellers realise that they need a motivated, pro-active, traditional estate agent with strong local knowledge, who know their buyers’ needs, to maximise their chances of selling.

So, whether you are buying or selling, or require specialist development advice, just speak to Putterills, your local trusted property experts for up to the minute advice.