While most people are interested in looking forward in the property market and working out what will happen next, it is also important to look back. At Spencer Harvey, we believe that there have bene many positive aspects about the Stockport property market in the past year and that the town has undergone significant development. However, it is also important to consider the overall property and rental market, which is why information from ARLA and NAEA Propertymark is important to bear in mind.
According to NAEA Propertymark figures, the highest level of demand for property came in January and February of 2017. This saw 425 prospective property buyers registered per branch. Overall, there was a higher level of demand for property in 2017 than there had been in 2016. This can be seen with each branch having an average of 365 registered buyers in 2016 and 380 prospective registered buyers in 2017.
There is a consistent supply of property
The supply of property has remained consistent, sitting at an average of 39 properties per branch in 2016 and 2017. The months which saw the highest number of sales agreed were February and June, with an average of 11 sales per branch. Across the year, there was an average of 9 sales per month branch, which is an increase from the average of 8 in 2016.
With respect to the rental market, the supply of rental accommodation was highest in January of 2017, with the volume standing at 193. In 2016, the average volume of properties on offer per branch stood at 180 while between January and October of 2017, the average number of properties on offer per branch was listed as 188.
There was a spike in landlords selling their Buy To Let properties in March and April of 2017. Given the changes that landlords faced at the start of the new tax year in April, it is easy to say that there is a correlation between this outcome and these changes. It has been a difficult year for landlords but many still believe there is an opportunity to be successful in the market.
Taking the national figures as a starting point is never a bad idea and we are pleased to receive guidance and information from ARLA and NAEA. We believe being members of these bodies helps us to provide the best standard of service to our clients while also ensuring that our clients can be confident about the help and guidance we offer them.
We are Stockport property specialists, and this is why so many local homeowners call on us to provide them with the support they need to sell their home with the greatest of confidence. You can give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html