27 Jan What can we expect in 2017?
In my opinion, I think the first quarter of 2017 will continue form a strong Autumn market and there are already signs that buyers are keen to move this year. Interestingly this time last year Estate Agents and Solicitors were busy working with ‘Buy to Let’ (BTL) buyers keen to purchase before the change in Stamp Duty increase for second homes on the 1st April. This year there is increased activity amongst first time buyers who are taking advantage of the lower number of BTL buyers in the market and staking a claim for their first property to get on the property ladder.
As mentioned in my blog last January, as we draw closer to the completion of Crossrail in 2018/19, the Thames Valley will see greater numbers of buyers that need access to the City and Canary Wharf and will be drawn to the towns and villages in Berkshire and South Oxfordshire. These buyers who would have traditionally searched for homes Kent, Essex and Hertfordshire, will now start to look at settling in our region, being attracted by good schools and outstanding surrounding countryside.
Family homes between £500,000 and £1m, in Henley itself, will continue to receive strong demand from local up sizers and the large number of London buyers who move to the town. The London market has stuttered in the last 12 months, which has had a know on effect in the local area due to London buyers unable to close chains.
I think 2016 has been a challenging year for many estate agents, particularly those that rely on volume sales, as the numbers just haven’t been there. I am fortunate that as a small independent estate agent, I don’t have the pressure that some of my peers with high overheads are experiencing and I can report a successful year and I feel very positive about the market in general this year.
If you are thinking of moving in 2017 please contact Philip Booth Esq to register your requirements or to book a Market Appraisal.
Call 01491 63 53 43 or 07795 42 22 84