- 16
- September
Welcome to your latest property update!
The property market is moving! August was a busy month for sales, as we sold more properties than in July, and were nearly 20% up across our branch network compared to last August!
A fun fact is we sell around 8-9% of all properties in the North East so it gives a fair indicator of what is happening in the market!
Nationally, it’s becoming clear that we are heading into a buyer's market! Sales of properties via our national auction service are holding steady, but there are often properties which aren’t selling. This is not because there aren’t buyers interested, but because sellers don’t want to accept what buyers are offering.
It will be interesting to see what happens in the autumn budget! An increase in CGT rates will without doubt cause a drop in transactions, as sellers will hold off selling investment properties!
A stamp duty holiday could increase the volume of transactions, but normally just brings them forward, increases prices, and doesn’t necessarily help first time buyers in the long run!
In the meantime, we will just keep calm and carry on selling!