There are many different ways to gauge activity in the property market and some of the methods are more obvious than others. For instance, if you are looking to see if the market is doing well and people have confidence, sales figures and the number or volume of mortgages being issued are very important numbers to consider. Of course, given the huge level of interest in the property market, there is a need for much more news and opinion, and this creates a situation where any factor is dissected and evaluated with respect to house sales.

For instance, there has been interest in findings provided by a “for sale” signboard supplier which states that they are having a better time in 2018 than they were for the same period in 2018. The company, Agency Express, stated that with respect to requests for “for sale” boards, they experienced an increase of 118.2% between the June of 2017 and June of 2018 figures. For the “sold” signs, the increase was 85.1% between the two periods.

Do sign sales equate to property sales?

The company has even stated that although there have been numerous reports across the UK that property stock is at a record low level, they have found that the number of “for sale” boards has risen by 9.4% on a monthly basis between May and June and “sold” signs experienced an increase of 6.2% in the same time-frame.

There is a constant need for news in the property market

Given the demand for news and insight into the property market these days, it is no surprise that these figures have grabbed headlines, but they don’t really tell much of note. Just because a company is ordering more signs doesn’t necessarily means that they are selling more homes or even expecting to place more homes on the market. You would hope that the number of sold signs has some correlation with the market as there is no need to hoard these signs as much, but no one should get carried away with these figures.

However, there is an argument about the relevance and importance of these boards, even in the digital age. It is important that estate agents create a visual signifier of a home being on the market because not every buyer is actively searching online. There are people who see a sign that triggers their interest in a property and then take it from there, as opposed to wanting to buy a property and searching online.

We know that being a landlord is difficult and staying in touch with the latest regulations places many landlords under pressure. As Stockport property specialists, we are here to make a difference. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html