The estate agents also suggested that the market was looking more optimistic than this time last year, with house prices rising most notably with properties costing in excess of £250,000.
By Martin Williamson, Head of Residential Property at Latimer Hinks Solicitors
Spring is in the air, and with a crop of Bank Holidays on the horizon, it is the perfect time to start thinking about ways to spring clean your life and look at potential new homes.
The Easter holidays and the early May bank holiday are prime time for activities in property, and as Head of Residential Property at Latimer Hinks, I always notice more clients keen to find their new home, and complete in time for a summer of relaxation.
If you’re looking to complete before the summer sets in, I would highly recommend allowing yourself and your solicitor plenty of time to carry out any necessary legalities. Many clients are keen to complete quickly, and at busy times of the year it is essential to give your solicitor and any related parties plenty of notice – you never know, someone, somewhere in the process is likely to be taking a well-earned summer holiday!
However, it’s not all doom and gloom in the winter months, even if the days are shorter and purchasers appear less inclined to explore potential properties, it is pleasing to see that the region’s estate agents have not been feeling a significant amount of pain, considering the political climate and uncertainty of Brexit.
He said: “We are selling everything we get at the moment, and the rental market is especially buoyant too. The general public have a particular impression of what is happening, however this is more to do with the national news being London-centric and reflecting what is happening in the South. The housing market in the North East is very different due to the competitive prices in the region. You can certainly get much more for your money here than London and the surrounding areas.”
Recent figures on Rightmove suggested an upward trend for house prices from the past year. In 2017, the average price of a property in Darlington was £146,702, whereas now it is £147,792, and increase of 0.74%. This may seem small, however considering the political upheaval we have experienced, this is not insignificant.
Stockton also saw an increase in overall house prices, with the average rising from £134,934 to £136,723, an increase of 1.33%.
Overall, the trends from the last few months give an optimistic outlook for the spring and summer, and suggests that if you’re in the market for a new home, now is the time to start looking.
Please note: This article is intended as guidance only. No responsibility for loss occasioned/costs arising as a result of any act/failure to act on the basis of this article can be accepted by Latimer Hinks. In addition, no responsibility for loss occasioned/costs arising as a result of any act/failure to act on the basis of this article can be accepted by the firm.