There has been a lot of talk about an increase in confidence in the property market in 2020. While many people believe the Boris Bounce will provide impetus to the market, many more are looking for concrete proof positive things are happening in the property market. Thankfully, there has been a range of data supplied by leading organisations in the market which should make vendors and buyers happier.
We are pleased to say we have helped many buyers and vendors in and around Wembley. We have experienced an increase in local interest in the property market. Whether you are keen to buy or sell, get in touch with Smith Melzack, and we will be more than happy to assist you.
Figures provided by Halifax suggest annual house price growth has risen to 4.1% in January 2020. Halifax also says for the most recent quarter; house prices were 2.3% higher than in the previous quarter.
Russell Galley is the Managing Director of Halifax, and he said; "A number of important market indicators continue to show signs of improvement. We have seen a pick-up in transactions with more buyer and seller activity consistent with a reduction in uncertainty in the UK economy. However, it’s too early to say if a corner has been turned. The recent positive figures may actually represent activity that would ordinarily have been expected to take place last year but was delayed by economic uncertainty."
Demand will be greater than supply in 2020
The Halifax is tipping a moderate increase in house price growth for this year, and demand will continue to rise. It is hoped that many vendors will be encouraged to come to the market, and if you are a Wembley homeowner considering selling your property, we are more than happy to assist you.
Also, a lot of people are waiting on the March Budget. It is likely housing will feature prominently in the March Budget, so there may be new incentives and measures to encourage people to step on to the property ladder this year.
Nationwide is also optimistic
While Nationwide is usually more cautious in their approach than Halifax, they also believe there is room for optimism in the housing market. Their figures suggest house price growth increased by 1.9% in January, which is an increase on the 1.4% figure in December.
NAEA Propertymark, have also expressed optimism for the market. Through their Chief Executive Mark Heyward, they have said recent figures indicate "an encouraging close to the year" and they "hope to see more of this stability in 2020."
At Smith Melzack, we know selling your home is a challenging process. We have helped many Wembley vendors connect with buyers, and sell their home. We like to think we make a difference for our clients, and if you are looking to sell your Wembley home in 2020, get in touch. We can arrange a property valuation for you, and no matter what you need to sell your home, we can help.
