In a study commissioned by Zoopla, it has been found confidence levels amongst agents has risen 55%. After a three-year decline in agent confidence, it is good to see professionals in the industry have a more optimistic outlook in the market.
The report also shows agents in the north of England are more optimistic about the market than their counterparts in the south. This is something we agree with, and we think there are far more appealing property opportunities in the north of the country right now.
Many agents expect more homes to reach the market soon
52% of agents expect the supply of homes to the market to increase in the next 12 to 18 months. 45% of agents believe there will be an increase in the number of property transactions in 2020. These are positive signs, and it is easy to see why people believe the market is in much better health than previously.
Of course, there will always be challenges in the market. 39% of agents have called for fees to be lowered and 37% of agents are calling for changes to stamp duty penalties.
Andy Marshall is the Chief Commercial Officer at Zoopla, and he said; “The annual State of the Property Nation findings always make for a compelling insight into all facets of the market. In the first of our series of takeaways, the study provides a barometer of agent mindset, and our findings show, on the whole, that agent confidence in the market is on the up for 2020. It comes as little surprise that the so-called ‘Boris Bounce’ has already started to reshape the market in the immediate term – particularly amidst reports of improving consumer confidence following the decisive election outcome.”
The March Budget will be of significant interest to the property market
While it is important to remember there are many barriers to overcome before the country truly settles down again, it is perfectly understandable why some people are feeling optimistic. Once there is a clearer idea of what will happen with Brexit, and when we see what is announced in the March Budget, it is likely people will be in a better position to make a move.
Andy Marshall continued by saying; “Without doubt, appetite to buy and sell property has been pent up since the aftermath of the Brexit vote in 2016, and it would now appear that we have the green shoots of a new cycle in the market. While we don’t expect runaway prices – indeed we have forecast a modest 3% growth for 2020 - we are definitely heading in the right direction and agents are rightly benefitting from what we hope will become a new dawn.”
Stockport is just one part of the UK property market. The trials and tribulations which affect people across the country are just as relevant here, but it is fair to say things are looking promising in Stockport. There has been considerable development work in recent times, and the North West of England is recognised as being in high-demand for property, and business.
With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. As Stockport property specialists, we want to ensure you stay in touch with the latest property news. 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