While there is a natural focus on property prices, many experts and specialists recommend considering the volume of property transactions to judge how the market is performing. In information provided by HMRC, it appears property activity in the UK has remained steady at the start of 2018, and in comparison, with what happened at the beginning of 2017. There are also some parts of the UK which are performing very strongly, so there is some cause for optimism in the UK property market.

The number of completed property sales in January of 2018 was 101,350 and while there was a slight fall in February, the completed property sales figure of 101,010 is not something to worry about. This represents a fall of 0.3% which while not ideal is manageable.

Consistency is good in the property market

In February of 2017, the volume of completed transactions stood at 101,710 so again, there was been a small fall in the year-on-year figure but when you consider the negativity many people have expressed about the property market, these figures suggest that there is consistency in the market.

When people fixate on property prices, there is a chance for outlier sales to skew the market and give off the wrong impression. It is natural for homeowners to daydream about selling their home for a huge profit or for prospective buyers to dream about finding a bargain, but these are rare occurrences as opposed to things that happen on a regular basis.

Realism is growing in the UK property market

There is a growing air of realism in the UK property market with many buyers and sellers accepting that this is a challenging time in the market. There is a need for estate agents to be honest and realistic with their clients and hopefully there is a movement towards this. At Spencer Harvey, we aim to provide reliable and dependable estate agent services. We know that some firms make big promises about what they can achieve and will focus on inflating property valuations, but this is not how we like to do business.

Here in Stockport there are many changes taking place and it is easy to see why so many people feel excited about the market. The area hasn’t struggled as much as some others in the property market but there is a need for people to be genuine with their aims. As local specialists, we are always on hand to discuss the market if you need guidance.

If you would like to talk more about Stockport property options, you will find that we are the local experts you can rely on.  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