Our clients like to keep up to date with the state of the freehold market. The housing information service Hometrack has released figures showing that June saw a turnaround in the fortunes of the market with the volume of sales agreed by agents rising 10.6%- the highest monthly increase since March 2011 (12.6%).
There was a bounce back of activity following a subdued May. Setting a realistic price seems to be key to achieving a sale and Hometrack say that agents are keen to ensure prices are at a level where transactions can take place. Greater realism is supporting sales but prices remain under pressure. Hometrack say that average prices fell by .1% in June. The number of properties for sale on agents’ books grew by 3.5% in June following a 3% rise in May.
Judging from this research the market is not in such bad shape as many had expected. If you are thinking of buying a property and renting it out you will need a specialist landlord insurance quote.