January 2014 newsletter from Alex Mackay
It’s been some years since I have been this confident about the new year. As we are all aware, the property market has been in turmoil since 2008 and it’s only last year that I saw a marked improvement. This was always going to happen but the question was when. And, I believe, the answer is now.
Q4 2013 saw a significant shift in buyer attitude with many of our clients making sales at prices ahead of expectation. The Council of Mortgage Lenders are predicting an increase in lending in 2014 by some 15% and this will build the momentum required to drive the sales market forward. Our Land and New Homes business was much busier last year as builders took the decision to “get back in the ground”. We sold more new homes last year than we have since 2007 and our land business has exploded with more enquires than we felt we could handle, hence expanding the department to deal with the increased demand. The increase in new homes will help to ease the pressure on the second hand market which shows every sign of kicking off strongly in January.
My advice is not to wait for that traditional time to get your house on the market, i.e. the spring, but to do it now. Get ahead of the game. Current predictions are that property commentators will record that 2014 was a cracking year in terms of successful house sales and prices achieved, all enabled by improved mortgage lending and a genuine desire to move home.