National Publicity Encourages Buyers

The bad weather this winter did little to dampen the enthusiasm of house hunters locally. There is now definitely an upward momentum in the local property market with steady prices, an increase in availability and more and more buyers in the market.

At the time of writing this article the agents are reporting brisk business on the run up to Easter which bodes well for the school holidays.

 Realistically priced property is likely to find a buyer within a reasonable period of time and in some cases, as the writer has found just this week, buyers are fighting for the same property. There has been a fear that the General Election would adversely affect the usual busy Spring market but this is now unlikely to happen with interest rates remaining at or near their current level for some time to come.

Dartmouth has had more recent publicity in the national press with The Telegraph reporting on waterfront property a few Saturdays ago with viewings dramatically increasing on these properties. The indications nationally are less certain with most recent figures showing a steadying from a buoyant market. It has been said many times that Dartmouth and the South Hams generally works back to front and just as the national picture shows a slowing down, the South Hams takes off.

Let’s hope the Spring and Summer continues in a busy vein although at some stage it is likely to slow with the Government of the day having to make considerable cutbacks in public spending and probably not for some time, interest rates to rise. There is more positive news on mortgage lending which increased in February by 6% compared with January to an estimated £9.2 billion according to the Council of Mortgage Lenders.

The figures come after a slow down in January when the national market was hit by the end of Stamp Duty relief. Lenders expect an uneven market in the months ahead and that the economy is likely to slow owing to action to tackle the fiscal deficit.