11th June 2010

Property Market Booms

I apologise for the delay in getting this blog to you, but this is probably the best example of the increase in activity in the property market that has been seen by me since the beginning of April.

At the start of the year I had been predicting growth in terms of the number of properties coming on the market anticipating a 10% increase from last year with sales following a similar pattern of increase.  Currently with 4 months in (1st February to end May) this figure is currently holding at more than 40% of an increase.  This is very positive and a figure that I will continue to monitor.  My view is that as people are still prepared to put their houses on the market then you can see that there is pent-up activity and there are people who are wanting to move house for whatever reason.  Readers of previous blogs will know my views on the Home Report but at least with the upfront cost we can guarantee that the people who are putting their houses on the market are genuine sellers. 

The recent prediction from the Halifax which shows prices dropping because of increased volume ties in with the figures that I am seeing for the East of Scotland.  My feeling is that because of the differences in the Scottish system and the underlying shortage of property, we will not see the drop in prices predicted by the Halifax but we should see a levelling off in price growth as numbers of properties coming on the market increase giving people more choice.  I will keep you up to date with the statistics as I get them.



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