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October

According to Keats, Autumn is the ‘season of mists and mellow fruitfulness’, and this can certainly said of the former!

Will there be fruitfulness in the property market? There are the usual scaremongering headlines such as prices predicted to fall in 2015, and the promises from all political parties that hundreds of thousands of new houses will be built over the next few years.

The reality is that there is a shortage of housing so this in itself could keep pushing prices up, and the difficulties in finding areas for new housing which would almost certainly have to be ‘green-field’ sites. Worcester News reported recently that a ‘blueprint for thousands of homes in South Worcestershire got the go-ahead from councillors at Wychavon’, which earmarks land for 28,000 houses. The upturn in the economy has boosted the number of new homes being built, and it is interesting to see signs of this when driving around our area.

Last month’s blog focussed very much on the statistics from Land Registry, and the new figures out do show a continuing increment in the annual increase of house prices nationally, up from 7.2% in August to 8.4% in September. In our particular region, only Herefordshire saw an increase in the annual rate, but Warwickshire is still leading the way with the highest increase in prices of 6.1%.

Andrew Grant have seen quite an upturn in the number of properties being brought to the market, with the highest number of New Instructions seen in 4 years for Q3 (July-September). Traditionally the Autumn is the second busiest period in the property market after the Spring, so let’s hope that these new properties on the market will be snapped

 

 

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