Emerging spring property market – grounds for optmisim

Spring is in the air, with green shoots of a new season not only in nature, but in the housing market too. Head of sales at Balfours, Alistair Hilton, says prospects for property owners seeking to launch to the market has gained gentle and positive momentum.

“The phones had begun to ring even before the Bank of England’s announcement to leave interest rates at 5.25 percent and their indication of future cuts. Without doubt that is giving more people more confidence to press on with house sales and purchases.

“The housing market has a window now, before the election, to make the most of a more positive economy, where inflation has moved in the right direction too. Inflation has decreased sharply in recent months, with the forecast expected inflation below two per cent in the second quarter.”

Alistair observes that as mortgage rates reduce, there are solid signs of optimism with buyers more confident to invest. “We all know how sensitive mortgage rates are to interest rates. Now the uptick in mortgage approvals is seen right through the market, that is a very encouraging sign. The result of more approvals is of course more completed sales.

“Also, with the annual house price moving into solid positive territory for the first time in over a year, the green shoots are emerging to build on,” he adds. If you would like a no cost and confidential market appraisal, call Balfours on 01743 3535311, or 01584 707100.

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