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March Market Update

06 March 2019

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Hi there, welcome to our Market Update on this sunny day at the start of March and a market where everyone’s asking, “What’s going on out there?” “How’s business?” “Is everything doing ok?”

And understandably people are worried because we are now around 3 weeks away from the date that we are meant to be leaving the EU and the market hasn’t reacted necessarily the way that I would have expected. We thought there might be some uncertainty going on and the market might start to fall away a little bit – we’re not seeing any great evidence of that. Even with headlines in Newspapers saying things like “Sluggish, Stagnant” but the clue is always in the fine print.

There really is a North-South divide that is happening around this issue at the moment. Up here in the North, as I’ve often said, we just don’t see the same response to the type of headlines we’re seeing at the moment or the type of environment we’re seeing at this moment in time.

We’ve been watching our numbers very carefully, so we’ve been tracking January and February of this year against January and February of last year. To see how the numbers have changed and the truth is, they haven’t changed a great deal. If anything they’ve edged up a little bit, where we saw sales 4% higher than a year ago, we’ve seen the number of First-Time Buyers 6.5% higher than a year ago, again giving us a great insight that people aren’t going to wait and see what happens with Brexit, they just want to get on the housing ladder. 

And perhaps most telling of all is the number of people out there viewing property right now is almost 20% higher than it was a year ago. So as I sit here today, I’m happy to report that the market looks to have continued the trends that we’ve seen over the last year or so. What happens beyond the 29th March, we’ll have to wait and see.

As always, stay tuned and keep watching these market updates, we’ll keep you up to date with what’s going on.

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