Property Market Update

February 14th 2017
By: Natasha
Property Market Update

Richard Durrant, Managing Director of Intercounty commented. "It’s that time of year again when I am frequently asked: “What is the property market going to do this year?” 2016 was a year of surprises, notably the result of the referendum which had a significant impact on the UK’s property market.

So what will 2017 bring? Back in November I would have said that transaction levels would remain similar to those we have seen in 2016, albeit evenly spread throughout the year, rather than the spike we experienced in Quarter One, 2016.

However, we are now seeing some encouraging early signs of activity – the property portal Rightmove said that they have seen a 5% increase in visits to their site since Boxing Day*, compared to the same period last year. The NAEA, The National Association of Estate Agents has also reported that the number of prospective buyers registered per branch in December was the highest amount they have seen for 13 years, as well as a record number of sales to first time buyers, the highest since 2001."

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