May Property Market Update

This year so far, has been nothing short of exceptional for us, and the property market in the North East is in fact moving, and has been continuing to do so for us all along.

April saw a huge surge in listings and sales compared to the same time last year, and it’s gratifying to note that the momentum has carried forward, with significant increases in property transactions across our branch network in the North East, where we have seen a 50% increase in net sales. In addition to this, our national auction facility has experienced a record-breaking month in some areas of the UK. 
  
Traditionally, the arrival of spring injects a new vigor into the property market, as sellers wait for their gardens to bloom or undertake a big ‘spring clean’ and we anticipate further opportunities for growth and success in the coming months. There is a lot of buyer confidence, and in most instances, properties are selling quickly. 

We do seem to have a 'supply and demand' imbalance with rentals, as we have a substantial database of tenants waiting to rent, and unfortunately a shortage of properties coming on to the market for them to rent. If you are thinking of letting your property out, do contact our team of experienced letting staff who will not only find you a reputable tenant, but they are also well versed and on top of all of the ever-changing landlord laws and legislations.

As ever if you are thinking about selling or renting your property, please contact your local Pattinson team.