22nd Mar, 2016
Despite fears that many people cannot afford to get onto the housing ladder and the uncertainty of the market in the light of a looming potential Brexit, it seems that people buying and selling homes are feeling positive about property.
A study by the British Property Federation (BPF) and Grosvenor Britain and Ireland reveals that from the perspective of property buyers, sellers and investors the coming 12 months will bring buoyancy for the market, with 88 per cent saying they are confident that this will be the case.
60 per cent of those asked foresee their own investment activity improving in the next 12 months although, according to the survey, local and national government will need to change things up to ensure the market retains its’ strength.
54 per cent are certain there will be positive times to come over the next 5 years, a figure that would likely be higher if political uncertainty was not a factor.
"The real estate industry is a vital contributor to the UK’s economy and crucial to bringing about regeneration and growth across the country. It is therefore welcome to see that sentiment over the next year is positive," said Melanie Leech, BPF chief executive.
Recent statistics support the positive outlook of buyers, sellers and investors. The price of property coming to market has hit a new record. New seller asking prices increased by a significant 2.9% (+£8,324) in February. There has been an encouraging 5% uplift in the number of new properties coming to the market compared to 2015, which will help to meet some of the record demand from home-movers. New supply of typical first-time buyer homes has increased most, up by nearly 10% in February; alongside other initiatives, this is great news for those looking to invest in their first property.
Yorkshire & the Humber is one of four regions across the country where the number of new properties for sale is above the 5% year-on-year average uplift. 2016 could be the year of the first-time buyer encouraged by low interest rates and initiatives such as Help to Buy.
Article source: www.rman.co.uk, www.rightmove.co.uk
Image source: www.pixabay.com
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