Expert View: What’s in store for the St Albans property market this month?

Nick Doyle, operations director of Aitchisons

Nick Doyle, operations director of Aitchisons - Credit: Photo supplied

Nick Doyle from Aitchisons tells us what to expect between now and the New Year.

As the festive season swings into action and 2017 draws to a conclusion, forecasts for the housing market are already upon us - as inevitable as Ant and Dec on our TVs and the growing pile of pine needles on the carpet between now and Twelfth Night.

Despite reservations on economic growth and productivity, predictions for the housing market are a little less bleak with modest gains suggested which may actually entice more sellers who have been reluctant to enter the market when prices have increased more steeply.

The local market has been remarkably robust throughout November with a higher than average number of sales being agreed and family homes especially in demand amongst buyers.

The first interest rates rise in 10 years at the beginning of the month had little impact and perhaps the stamp duty concessions in the budget will help light the blue touch paper for first-time buyers in the New Year.

The only certainty in the 2017 marketplace was the continued uncertainty with the Brexit cloud hovering but perhaps a breakthrough in the talks is imminent and some much needed momentum can be carried into 2018. In case you were in any doubt, I am by nature an eternal optimistic.

December is for obvious reasons a quiet month for us estate agents although it does sort out the wheat from the chaff, with motivated sellers and buyers alike still keen to act.

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Interestingly, the two major property portals, Zoopla and Rightmove, both report significant uplifts in traffic and site visits over the Christmas period and we are encouraging sellers to take advantage of this by having their property available online (but not for viewings) for this uplift in enquiries and momentum for 2018.

That would be welcomed for the New Year, some much-needed momentum...

For professional advice on all property matters, contact Aitchisons on 01727 855556