Market Comment – July 2018

Gary 4x3Whilst July was very much what we expected and with no increase or decrease in activity with our sales market, anyone could be forgiven for thinking that the property market was going to collapse after reading some of the gloomy reports surrounding the London house market, the uncertainty of Brexit, the hottest August since 1976 and the holiday season well and truly upon us, I am pleased to tell you that the property market, resilient as ever held steadfast against all the gloom mongers and in the areas we operate in, the market remains robust.

We only have to look at the enquiries for our newly built properties benefiting from the help to buy initiative which has led to most of our developments being sold out with over 80% reservations on the first day of launch. It would be no exaggeration to say that we are oversubscribed with new homes properties by 3 to 1 and it is true to say that whilst rents have definitely levelled out and in some cases landlords have marginally reduced their marketing prices as an incentive to attract more tenants, we are still experiencing for every property we have available, there are 5/6 tenants.

So as we enter the last 3rd of 2018, my staff and I are going to use the negativity and turn this in to opportunity as I foresee a stable market ahead for the rest of 2018.