Hunters 2014 overview of sales

The housing market has certainly been interesting in 2014, Martin Robinson gives us his summary of the year.

“To coin a footballing phrase, ‘it was a game of two halves’ or in Estate Agency terms a year of two halves. The first six months carried on where 2013 left off, prices were slowly rising on the back of consumer confidence, low interest rates and a shortage of supply. The highest demand came from investors, first and second time buyers who had been sat on their hands for quite long enough.

It was the sub-&300K market (town house terraces, semi-detached, apartments and small detached properties) that enjoyed the greatest price increase, approximately 6% nationally. This figure however does exclude London where price growth was nearer 20%.

From July onwards the story has been a little different, demand still outweighs supply although lenders feel (and rightly so), that there has been enough short term growth and it is time to turn the heat down so they have been more particular in their lending criteria. An election just around the corner and the uncertainty of who is going to be governing the country from May 2015, creates a more cautious public.

Our predictions for 2015 will be a slower start than that of 2014; however money is still cheap to borrow and supply is short and those two factors, once the election is out of the way, will make for a strong sales market in the second half of the year”.

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