The January 2018 RICS Residential Market Survey points to a generally solid picture across the South West region. Opinions on the future trend in house prices is suggestive of a low single digit increase through the course of 2018.
A key driver of this is the ongoing imbalance between supply and demand which is a feature of the market more generally, not just in the South West. Feedback on appraisals for the region suggest this issue will, unfortunately, not be fully addressed anytime soon.
The RICS Newly Agreed Sales indicator for the South West alongside the Land Registry numbers is a good lead indicator of future trends and is pointing towards transactions remaining close to where they have been over the past five years.
However at Drew Pearce we have noticed that one consequence of the shortage of new stock is that there is renewed interest in old stock with viewing numbers up. We are also seeing encouraging numbers of appraisals and instructions compared to January a year ago.
If you are thinking of selling now is the time to speak to us, the 'no sale no fee estate agents'. 01392 01392 201748