Since the opening in late 2014 of our new Property Agency showroom at our Vicars Lane offices, opposite Grosvenor Park, to accommodate the expansion of the Estate Agency business, there have been some significant events in the national property market.
December saw the reform of the deeply unpopular Stamp Duty Land Tax rules for residential property in England, Wales and Northern Ireland. In Scotland the new rates will apply until 1st April 2015, when SDLT will be replaced with Land and Buildings Transaction Tax. It is estimated that 98% of buyers will save under the new rules. The reform has led to Fisher German seeing a substantial increase in activity since the changes, with buyers often using the savings to offer a little more to secure the purchase.
More recently, January saw the eagerly awaited launch of the new property portal, www.OnTheMarket.com, to challenge the duopoly that is Rightmove and Zoopla. The website is owned by a consortium of estate agents around the UK, and currently has over 4,000 agency offices signed up - Fisher German Chester was amongst the first to sign up.
Fisher German Chester has also seen an increase in buyer activity this January compared to January 2014 which indicates a continued strengthening of the market. However, it will be interesting to see if the uncertainty created by forthcoming Election in May has an impact on customer confidence.
If you are looking to move or simply would like confidential advice, please call Michael Harris or Anna Morris on 01244 409660 or email michael.harris@fishergerman.co.uk or anna.morris@fishergerman.co.uk