If you’re involved in agency, you will undoubtedly  have been asked the question “How is the market doing?” Our answer would be: “Far better than it should be, at least in our experience”

Brexit uncertainty, interest rate rises, inflationary pressure; conventional wisdom dictates that the housing market must be on its knees. This is not the case.

True, transactional volume has been down this year, but we have performed strongly in all the markets in which we operate.

Rising house prices and more stringent lending criteria may have challenged first time buyers, but we have seen a real determination to get on the housing ladder. The Chancellor’s budgetary announcement of shelving SDLT for those purchasing their first property will go some way to alleviate the pressure. Looking forward, this improved fluidity will translate to more activity further up the market. The buy-to-let sector has been affected by a more rigorous tax regime but people are still investing, considering this to remain a safe bet. We know that household incomes are being squeezed by rising inflation, but perhaps housing is a question of priorities and many people are making their next move a priority.

The residential property market runs on sentiment. People entering the market will read the reports, ask for advice but the decision is often emotion led; people usually do what feels right. If they want to get on and move, and they can afford to do so, then they will. Their perceived ability to be able to afford to move will probably depend to a great extent on how financially confident they feel.

Financial confidence may seem a tall order in an environment dominated by political rumination about the potential negative or positive implications of Brexit for the UK. However a small, but determined group of people do feel sufficiently confident. There are fewer houses on the market, but those who are on the market are genuine sellers, and the price that they can ask is bolstered the lower supply. Buyers are mostly genuine buyers, prepared to pay a sensible (but rarely over-inflated) price for a good house. At this stage in our financial year we are considerably ahead of where we were last year – and last year was a thoroughly good performance.

There is no doubt that Fisher German have taken a larger share of a smaller market, no doubt that we have worked really hard to identify genuine purchasers, no doubt that matching genuine purchasers to genuine sellers has helped our reputation as trusted advisors to grow and develop. We have excellent knowledge of this market and we know how to make things happen. We understand property and we understand our clients. A powerful message if you are thinking of selling your house. 

For further information contact Alasdair Dunne on 07501 720412 or email here