A Prosperous 2011?

As we speed towards the Christmas festivities, there are fewer viewings taking place, although those viewing are serious buyers.

It is generally the second home market that is holding up, especially properties with water views. Above Town, South Town and Mount Boone are just three of the areas that are generating interest. My agency has agreed two sales on Above Town over the past few weeks, both properties around the half million pound mark and having wonderful river views.

The Bank of England have just announced that they are holding interest rates again at 0.5% and the general consensus is that this will be the case for the next few months. This can only help build confidence in the market and with the banks showing some signs of increased lending. The housing market is also very price sensitive, with many sellers having to be realistic about the price of their home if they are to achieve a sale.

Nationally it is reassuring to see that sales are stable and we have seen a slight increase in the percentage of sales made to first time buyers. Mortgage restrictions will need to be eased further if we are to see any real increase across the market moving into the early part of 2011. There is great uncertainty over the economies of some of the smaller European countries, especially Ireland that can affect the rate of recovery for the UK.

There are so many factors to take into account and so many variables that no-one can predict accurately the 2011 property market. What is certain is that we live in one of the most picturesque and sought after parts of the country, an area where people will always want to live and property at the right price will always have a buyer. May I take this opportunity to wish By The Dart readers a very Merry Christmas and a Happy and Prosperous New Year.