Newspaper article The Journal (Newcastle, England)

Rents Are Rising and This Trend Could Well Continue; Property Expert David James Takes a Look at the Housing Market a Month into 2013

Newspaper article The Journal (Newcastle, England)

Rents Are Rising and This Trend Could Well Continue; Property Expert David James Takes a Look at the Housing Market a Month into 2013

Article excerpt

THE property market has certainly been a talking point over the past year and none more so than in Tyne and Wear where good estate agents have very busy adapting their services in response to seller, buyer, landlord and tenant demand.

In terms of the residential market we know that prices across the UK as a whole in 2012 rose by more than PS7,000 but it was very much a year of two halves.

In the first half of the year, for example, average prices rose by 3.2% nationally but the brakes were then slammed down in the second half thanks, in part, to the reduced sales activity as a result of the Olympics and mortgage lending to first-time buyers weakening over the autumn.

In Tyne and Wear, however, prices over the period from November 2011 to November 2012 actually rose by 3.4% and, despite some Northern regions experiencing difficulty in light of public sector cuts, weak private sector growth, and a lack of mortgages for less affluent borrowers, the market in Newcastle and Sunderland has remained very active.

In response at your Move we have been encouraging sellers to put their homes on the market and, by setting a realistic price, many have seen their property sell relatively quickly.

As we see it, the advantage to sellers in using Your Move is that we are the UK's largest single estate agency brand - based on Your Move analysis of estate agency branch numbers shown on competitor websites in December 2012 The local team can work with colleagues from across the country in promoting a property. This is often of great benefit to a seller which, combined with the fact that we have the UK's most visited estate agency website, clearly explains our success.

As well as residential sales, however, the lettings market has also been a major focus for Your Move with many would-be buyers, who are unable to raise finance to buy, turning to the rental market instead. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.