Date Published 18 November 2021
Lately many people have been asking us what is the market doing, as there is much variance in the opinions from not only the news and social media, but even from different estate agents within Billericay.
Here at Henton Kirkman we have still been selling above average numbers for each month (roughly up 25%), albeit considerably down from the dizzying heights of the first half of the year (which was more than double normal figures), which of course was influenced by the stamp duty holiday.
Estate agents have access to the ‘back office' of Rightmove known as ‘Rightmove Plus', which gives us full information on all the market stats both locally and nationwide.
We can see that even within the town there is a large range in performance between agents, so I can quite understand why some agents are giving very different current and projected outlooks.
We also have to bear in mind the upcoming Festive season, where traditionally the market slows, although we have seen many a Christmas where it has kept steaming on!
Our understanding is that the latest word on the street is inflationary pressures are expected to lesson, so a rate rise may now be unlikely in the first quarter of next year. (Perhaps national insurance going up in April may be a contributing factor?)
In addition there are further factors like the government continuing to support 95% loan to value mortgages and the levels of new enquiries we're still getting from all types of buyers, which makes us feel the outlook for next year for the housing market, certainly locally, does seem to remain in positive territory.
Thus in a nutshell, although there is much varying regional performance, (e.g. London may be subdued Vs Blackpool seems to be the place to live with an uplift of 17% this year),
we at Henton Kirkman can see the market continuing with at least a modest growth, possibly more, rather than any significant reductions, so if you're looking to move, there seems no reason to put this on ice.
