The current political uncertainty we are facing here in the U.K has fuelled many negative assumptions relating to the property market. The TwentyCi Property & Homemover Report analysing the final quarter of last year has a much more measured and optimistic analysis.
The national trend in 2018 has shown that there was a rise of 4% in the number of properties coming to market than in 2017 meaning that there remains a significant volume of transactions within the property market.
There has also been a 2.1% rise in the average property price for exchanges year on year from £296k to £302k.
The average asking price for the Yorkshire and Humber region had also risen by 3% standing at £188,079 at the final part of last year. Specifically for Sheffield the average asking price rose 1.1% to £175,913.45.
Semi-detached and terraced houses have seen the greatest levels of growth year on year, with 18 to 35 year old buyers also on the increase. This is great news for those hoping to get onto the property ladder as these figures suggest it is looking more optimistic for first time buyers.
The report also has some interesting predictions from property experts for 2019:
“If the uncertainty lifts in the months ahead and employment continues to rise, there is scope for activity to pick up through 2019.”
“The UK could see house price growth as high as 4% by the end of 2019 despite current political upheaval.”
“House-sellers’ asking prices will be unchanged at 0% across 2019. Underlying the flat growth across the UK generally, Rightmove expects to see asking prices falling by around 2% around London’s commuter belt and decreasing by around 1% in Greater London itself, while heading further north, where affordability is less stretched, asking prices could increase by around 2% to 4%”
If you are looking to sell your property this year and want some professional, friendly advice, then give us a call or drop into one of our branches.