Moving home? The year ahead and what to do early in 2015
The New Year is here and as always there are plenty of predictions. Trying to second guess the market is a dangerous game. Who expected the collapse of the banks in 2008 which sent shivers through the offices of almost every Estate Agent in the land? Even though agents knew deep down the bubble had to burst, very few anticipated the actual outcome.
2014 was a good year all things considered. The market picked up, partly due to increased confidence after four long years in the doldrums and partly due to the Help to Buy schemes of the Government. In our area, properties began to sell in numbers in March 2013 and have continued to date. Prices have increased and in many areas they have exceeded the values reached at the peak in 2007. The November announcement about immediate changes to stamp duty also had a positivie effect and this will continue in the year ahead.
Is there reason to think this trend will continue in 2015? Yes, we think there is, but with one concern and that is the General Election in May. Many “political parties” have made property an issue and the public may react in advance of the May date, either to avoid a new tax or pre- empt a perceived fall in values thereafter. The fact is, for two weeks or so the Scottish referendum caused people to “wait and see” both sides of the border. This may happen with the Election, but we doubt it will affect the year as a whole. It may simply add another “pause” in the market, similar to Christmas or the height of summer holidays in August. Much depends on who wins and whether laws radically change or taxes increase. More new homes are needed and may be announced, but that is long term.
The property market always produces winners and losers. It is simply supply and demand in either a strong or weak economy, plus being in the right place at the right time. You can be lucky or unlucky and this has always been the case. However, if you are going to move home, our advice for 2015 is to place your house on the market sooner rather than later, long before May in any case. Just call 01993 779020 and an appointment will be made to get the ball rolling. Or email us at firstname.lastname@example.org
A very Happy and Healthy New Year to everyone, from all at MRC.