Ask Monty…

Monty isn’t just a dapper tweed-wearing handsome Fox; he is also a wealth of knowledge when it comes to the world of property. He is on hand to dispense hints and tips on house sales and property rentals to would-be smart Foxes and Vixens in his fortnightly House Column.

This issue, Becky asks, “Are property prices set to rise in 2017?”

Dear Becky,
Statistically, property prices have been rising year-on-year for the past seven years. This has not only been seen nationally but in the South West also. The question is whether there is enough buoyancy in the market for this to continue or whether we will see prices staying stagnant or decreasing.

Many companies put together projections or forecasts of what they predict to be the trend for the forth-coming year. These are based on past year figures and month-on-month movements. Rightmove have recently forecasted a 2% rise for 2017 – however, many other property commentators have predicted very different numbers, such as Henry Pryor who is forecasting a 2% price fall. In fact the predictions range from a 2% fall to a 4% rise.

The wide ranging forecasts are down to the level of uncertainty in the UK economy following the events of 2016. The general view being that there are so many unknowns it is increasingly difficult to make informed predictions for the property market – coupled with seven consecutive year-on-year rises – the buyers market may be unable to stretch any further. However, as we have seen with the incredible rise of prices in Central London, anything can happen in the property market.

In our area, we have reason to be optimistic, demand is still high and average length of time on the market is low – many experts see continued growth in the South and we have no reason to see any different. There will be an element of buyer and seller uncertainty as we begin the year but we at Foxes Sales & Lettings have a great start to 2017 and foresee it continuing.

Every issue you’ll find that Monty has hidden himself on a page of House magazine – if you find Monty you are in with a chance to win a prize! This issue Foxes Sales & Lettings are giving away a very handsome Monty Fox – email with the page number that you found Monty on to be entered into the draw. Good Luck!

Foxes Sales & Lettings
t. 01202 299600
a. Pars House, 2 Poole Hill, Bournemouth, BH2 5PS

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