One of the country’s top buying agents says he expects 2019 to be a much better year than 2018 as Brexit uncertainty subsides.
James Greenwood of Stacks Property Search says: “There are an estimated 6m households living in the wrong property and the country needs to get moving. Only an end to the indecision that we have been suffering since June ’16 can free up the market. And whatever the outcome, we will certainly see a significant increase in activity.”
However, he says supply and demand to remain roughly in equilibrium so prices will not see significant movement.
“Rural properties with acres have been struggling in recent years, but we are beginning to see an increase in appetite for property of this kind, and I expect this sector of the market to pick up significantly in 2019. Town houses in good market towns will continue to be in strong demand and prices will show steady increases” he adds.
He says his team of buying agents has witnessed owners and purchases being increasingly prepared to take on significant work to make houses more efficient, and this trend will continues with more eco retro-fitting and future-proofing.
“Properties that are inefficient will become harder to sell as buyers pay more attention to the running and maintenance costs they are taking on” he warns.
Stacks also says there will be different trends for different properties in 2019, such as:
- Isolated houses at the end of long drives will be hard to sell, but competition will be high for immaculate town houses in small cities and market towns;
- Cottages in tourist areas will be snapped up by investors jumping on the Airbnb bandwagon in anticipation of an increase in UK residents holidaying at home due to falling pound, airport delays, and Brexit fallout;
- Bungalow prices will continue their upward march thanks to rarity value; and
- Well-located individual plots of land, derelict properties and refurbishment projects will be snapped up as idealistic buyers who want to create their own customised space, and add value to their investment.