Property Market Continues to Improve
It has been widely reported in the media that the Property Market is improving month by month, with Halifax reporting that UK prices rose by 0.4% in March. So is this trend evident when you look at the local property market? Jonathan Quinn from Quinn Property Sales who has offices in Ballynahinch and Downpatrick believes that it is. He comments “At Quinn, we have noticed a huge improvement in comparison to recent years, with high levels of activity in terms of viewings, offers and properties being agreed for sale. We have found that potential buyers are finding it easier to access lending, albeit with a decent deposit required to get the best deals”.
He continues “Some properties recently listed have had multiple bids and have been agreed in a very short spaces of time, one particular property agreeing on the same day it was listed with us at slightly higher than the asking price. We have also noticed a huge improvement in properties listed in excess of £250k, helped particularly by the recent changes in Stamp Duty, meaning that in most cases people pay less stamp duty than before”. I have noticed Developers are also growing in confidence with many beginning to build new homes again, obviously having a positive impact on local employment, which is great to see.”
Jonathan adds “It is important that the market continues to improve and I am encouraged by the early signs coming into the summer months, our busiest time in terms of listing properties “for sale”. At Quinn, we are always willing to offer advice and guidance in all property related matters and offer a free of charge, no obligation market appraisal of your property”.