2016, although a turbulent year for property, was still a successful one where it mattered. Property prices continued their hike, despite the much debated EU referendum, the introduction of a higher rate of duty on second homes, and of course the stamp duty changes putting road blocks in the way.
As the year came to a close and 2017 reared its fresh, new head, the general outlook for the country was overwhelmingly positive, but that seems to have died down as we head into mid-January. Nonetheless, I Am The Agent, one of the country’s most prevalent online estate agents, has underlined the previous optimistic approach to the property market by suggesting that 2017 looks set to follow the uphill trend – and not buck it like some reports have suggested.
Rebecca Peach, Managing Director of I Am The Agent, said, “2017 is undeniably going to be difficult. The triggering of Article 50, the predicted housing shortage, and of course the political changes across the pond will all have an impact on the housing market here in the UK. It’s no secret that people were concerned that the annual rate of growth for house prices in the UK slowed from a high of 9.3% in June 2016 to 6.9% in October, however what’s most important to remember is that this is still a significant growth when compared to 2015.”
There have been numerous murkier reports for 2017’s outlook coming in from all over the sector since 2016 started to wind down. Some predict a slower annual growth of around half what the year ended on, while others suggest a decline in prices due to the rising cost of living making buying a new house unaffordable, thus slowing the market.
“As has been the case for the past couple of years, those looking to buy should do so sooner rather than later to ensure they don’t get priced out as the year progresses,” added Rebecca. “These negative predictions are just that – predictions that are not based on any facts and figures. We have never been in a situation quite like this before, so all this doom and gloom is unwarranted. And as always, those who are wanting to sell should treat the market just like at any other time and ensure their home is advertised in its best light on as many relevant platforms as possible.”
I Am The Agent has many years’ experience selling houses. The company prides itself on taking a different approach to the housing market by putting homeowners in charge of their pad. This not only lets the person who knows the property best highlight its features, but also saves sellers thousands when compared to traditional, high street agents.
