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July Market Update

04 July 2019

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“Hi there, welcome to our market update for the month of June. As we head now into the heart of the summer months what an interesting world we have. We have a country without a prime minister and yet the market continues to roll on in all the right ways.

We are at present in this environment where there is just not enough coming to market to service the demand that is out there.

So for us, our figures are broadly the same as they were last year. We’re bringing on the same number of properties and we’re selling pretty much the same number of properties as a year ago even in the face of all the challenging economic and political uncertainty, we’ve got going on around us.

Perhaps the biggest reflection of that is the price growth that we’ve seen across our network.

The average price at Manning Stainton is now standing just over £219,000, which is over 8% higher than it was in the same month of last year. On reading the right move asking price index this month they are also reporting that the northern powerhouses around Yorkshire and the Humber and of course over the northwest are seeing some fantastic growth, perhaps bucking the trend of the rest of the market and I guess the question is, are we going to see that continue?

Well if Boris Johnson gets into power, it would seem that that would be very much the case. He’s saying as was reported in the news a couple of days ago that he’s looking to get rid of Stamp Duty all the way up to half a million pounds, and that is the vast majority of our market place.

That would be huge for us, it would certainly cast off the shackles for those looking to get moving, who are thinking perhaps they can’t afford that next step, and will certainly make things easier for buyers who’re looking to get that first or second run on the ladder.

So watch this space and of course as always, stay in touch with us through these updates. Thank you for watching, if you want to give us a call we’re here to help you move.”

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