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Winter Market Comment

Winter Market Comment

Date Posted: 15/11/18


Autumn Rally defies Brexit Gloom

Putterills' local offices have reported one of their busiest Octobers for many years, with the first part of November showing little let up.

Our offices in Welwyn Garden City and Hitchin had one of their busiest months this year, closely followed by Knebworth and St Albans. The WGC team has seen two high value homes complete this month, one at over £1.8million and another at £2.2million - a clear sign there is activity at the top of the market as well.

In addition, several recently launched New Homes developments are attracting significant interest. One site in Stevenage, consisting of 29 homes, reported 25% being reserved in the first 10 days, confirmed Managing Director, Mark Shearing.

He continued, "The market remains price sensitive, with only realistically priced homes selling in good time, but it’s a clear indication that there are still plenty of buyers looking for property."
This year, we have seen a marked increase in First Time Buyers, but also families on the move. We continue to have record low interest rates, some positive average earnings increases and we are fortunate enough to be in an area of almost full employment, so the outlook is positive.

There have been some pessimistic reports in the media as to the impact of Brexit on the property market, but at present, there is little indication that this is the case. One recent survey of buyers and sellers indicated that 34% had put their moving plans on hold until the Brexit outcome is known. This could actually result in a surge of activity in the early part of next year, as we approach the normally strong Spring market.

Last week, Putterills attended the annual Mayfair Office property seminar held at London’s prestigious RAF club. 
Mayfair Office represents 320 UK estate agency offices and over 120 further offices worldwide. Each year, the seminar gives updates on local and regional property markets and the latest property marketing ideas from across Europe and the United States. 
Sales Director, Kay Sheppard, said, “Its really reassuring that as a small local company, we really are well ahead of most of our competitors with the marketing services that we offer our clients.” Above all. she continued, "its about customer service, listening to and understanding our clients needs and in these days of increasing internet marketing, our clients really appreciate personal service and friendly professional advice.”
Land director, Kane Lennon, added, “The great thing about Mayfair Office is that it gives us access to a whole range of property professional across the country, so whilst we specialise in Land and New Homes, if we need any other experts, we know where to go.”

If you are thinking of buying or selling, call us now to find out what is happening in your local area.
Putterills, your trusted property experts.