2014 was a strong year for the level of property sales in the area with an increase in sales achieved at John Goodwin of approximately 10%. The year ended on a very encouraging note with the introduction of considerable savings for the majority of homebuyers as a result of the changes to stamp duty payments. This is likely to have a positive effect on the market in 2015.
With an election taking place in May of this year our advice to prospective vendors is to consider an early start to the marketing of their property rather than necessarily wait for the more traditional spring market. The market may be further strengthened by increased competition between lending institutions which has resulted in a number of competitive mortgage deals currently being offered.
The last six months of 2014 also saw a significant increase in demand for industrial space and retail space from both tenants and purchasers. This trend looks set to continue in 2015.
Demand for residential lettings remains as strong as ever with continued demand for good quality residential letting opportunities. Investment buyers have also returned to the market.
We look forward to assisting all clients during the year ahead.
John Goodwin FRICS