Housing Market Update Q3 2012

Housing Market Update Q3 2012

The latest RICS UK Housing Market Survey confirms the consensus that the property market remains flat with prices static or falling for the majority of the UK. This is unlikely to change until the general economic outlook improves.

London is the clear exception with a balance of Chartered Surveyors reporting an increase in property prices and this is backed-up by Land Registry data showing a 6% rise in prices year on year.

In terms of our local market and as we have posted in the past, there remains strong demand in the more popular areas of Bristol with Richard Harding Estate Agents reporting recently that good family houses in the Clifton area are continuing to sell well with prices matching those at the 2007 peak. There will be a similar story in popular suburbs such as Southville, Henleaze and Downend.

Estate Agents in Bath point to strong demand from ex-pat and eurozone buyers although it is likely that such buyers will focus on prime and city centre locations more than the average house in outlying areas.

In terms of our own progress Edwin Lake Chartered Surveyors has had a very busy Q1 – Q3 with turnover approximately 30% up year on year. This is due to our continued focus on customer service, repeat business and recommendations combined with a strong internet presence. Only in the last week have home survey instructions fallen away but at least this has given us chance to catch up on admin tasks and to plan for the coming year ahead in 2013.

A slightly quieter market will help us carry out property survey instructions faster and have the reports produced more speedily than has been the case over recent weeks and months.

Please contact us on 0845 478 6305 or by email to richard@edwinlake.co.uk to discuss your building survey requirements.

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