Are There Brighter Times Ahead In Property?

It appears the property market may be warming up ever so slightly! Today, Scott and Charlie at WitSell, your local property agents for Witham, Essex, look at the data on offer and will come up with a answer for you all!

The National View From The Local Property Agents

So, in February this year (2019) there have been 101,780 residential transactions across the country. This is the highest level since way back in August 2017! While these results are to be 100% confirmed, it seems Brexit (shhhh don’t say the B word) is starting to become less of a factor on the housing market. Although buyers will understandably be cautious, pent-up demand is building and some, who may have been waiting for clarity are prepared to commit. The confirmed Brexit delay until later in the year may provide a window of activity. Time will tell whether this translates into sales levels showing further improvement over coming months.

Local property agents demonstrate first up tick in transactions in over a year

What Do The Local Property AgentsThink About The Local Market?

Looking at the local data, we can look at the annual % change in transactions in Witham vs the region (East of England). The below graph shows East of England struggling quite badly. % change is heading towards -15% for February however Witham is bucking the trend! While transactions are not quite as high as they were at the end of last year, we are seeing positive growth still in terms of transactions.

Local property agents demonstrate Witham annual % change in transactions

So, What Does All This Mean?

Is now the time to list your property for Sale? The answer is probably yes! Its at least worth consideration as, if we mix in traditional aspects of house sales, we are coming to the busier part of the year in terms of sales! Value is vendors primary focus and while you could say its all relative, its obvious one would want to maximise the value of their primary asset in life.

Witham’s Property Values Values

So here it comes: Witham is on an upward trajectory in terms of price. Looking at the graph below, you can see that the second half of last year saw prices being achieved we often lower than the previous 12 month period. However, since December 2018, sold prices have jumped up and look set to continue their growth! Its worth also noting that the trend in the region is continuing to decrease too so again, Witham is a market that looks like it has a more positive future ahead of it!

Local property agents demonstrate Witham annual % change in average prices

As local property agents, should you wish to have a formal market appraisal of your property, Scott and Charlie are available at any time that suits you to give you a no obligation property assessment. Contact us on 01376502450 or email at info@witlet.co.uk for more information.

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