Market Comment, Steve McDonald

The newest member of the team at Hunters Middlesbrough, Steve McDonald, gives us his thoughts on the housing market at present. Steve is an experienced valuer and has joined us from Manners and Harrison. He will be helping us to expand into Yarm, Eaglescliffe and Stockton.

“A range of factors are indicating that the housing market is now recovering; this recovery is broad-based across most parts of the UK, with a rebound in mortgage approvals, turnover, prices and starts. In addition to the Help to Buy Scheme which was launched in the Budget, the buy to let market is reviving. There has also been a backlog of demand whereby the number of first-time buyers has been around half of the usual figure over the last five years. As the economy is improving, this backlog is expected to stimulate a substantial further rise in demand, helping to lift the market.”