Property Market off to a Running Start in 2015

Off To A Great Start

Stephen Woodward of Woodward Chartered Surveyors Harrow on the Hill office hits the ground running in 2015 and looks forward to an active property market throughout the year ahead – only punctuated by one rather important event in May.

In housing market terms 2015 could be a contradictory year. In some ways the market is looking healthier than it has for years with more first time buyers than at any time since 2007. Early post-New Year signs are of sustained activity. These factors are clearly a reflection of increased confidence in the economy and higher employment across the UK.

This is very good news. The only cloud on the horizon might be the general election in May. If we thought the Scottish referendum – which for a time had a negative effect on market activity in England and Wales as well as Scotland - was a difficult one to call, the 2015 general election will surely prove to be impossible to forecast. And it is just this sort of uncertainty that markets don’t like. So we may see a slight cooling off in activity levels and transactions the nearer we get to May. But we think that buyers and sellers will want to make a head start on the market and try and make some hard decisions early in the New Year. Certainly these are the clear signs now.

Towards the upper end of the market there will be many with strong and very valid concerns about the introduction of a mansion tax – on top of the added stamp duty for this price sector imposed by the chancellor in his autumn statement. For those selling in and around the £2 million mark the market will be highly sensitive and pricing below this point may be advisable if a quick sale is required. We are not suggesting selling low: simply that sellers should accept that the next few months might not be the perfect time for optimistic or inflated asking prices for properties in a mansion tax entry level bracket.

But for some this will be a period of great opportunity in the property market. Having found your home we are ready to give you all the survey help you need. Don't forget to phone Woodward Chartered Surveyors for advice and a quotation, or use the Chat OnLine feature or Quick Quote button.

Woodward Chartered Surveyor's team of Building Surveyors cover areas from Oxford to Oxford Steet, with locations in Witney in Oxfordshire, Prestwood near High Wycombe in Buckinghamshire,  Chesham on the Bucks - Hertfordshire borders, Northwood in Hertfordshire, our head office at Harrow on the Hill in Middlesex, and The Mayfair Office in Thayer Street, London, W1.

Woodward Chartered Surveyors are Regulated by the Royal Institution of Chartered Surveyors, Faculty of Party Wall Surveyors and Registered Valuers.