17th Dec, 2019
Rightmove predicts that the price of property coming to market in Britain will rise by 2% in 2020. We have found that home-mover confidence and activity have been stalled by political uncertainty since the 2016 referendum.
With a clear majority in the election, there is now an opportunity to release some of the pent-up demand in the spring and see a gentle shift up in house prices.
Sellers’ pricing power will be enhanced by a lack of choice for potential buyers, with the proportion of estate agent stock that is available for purchase at its lowest for over two years.
The cheapest places to rent in Yorkshire remain HD1, HD4, HD7, HD6, HD5 and HD3 – all areas labelled as ‘affordable’ – which is something to remember if you’re looking for a new property in 2020.
What’s to come in the next 12 months?
The economic uncertainty caused by Brexit has undoubtedly affected the market, with house prices falling in some areas and fewer sales having taken place so far this year, compared to the same time last year.
We don’t yet know what this could mean for mortgage rates and people making decisions will find it even tougher – weighing up whether to move to a new house, remortgage or to stay put – so it’ll be interesting to see what unfolds.
We’re here to make whatever decision you make easier to navigate – please – get in touch and speak to one of our friendly and knowledgeable team.
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