Winter is often seen as an awkward time of year for the housing market. You may have been sled to believe that cold weather deters those looking to move home, and that as Christmas approaches most people are at home stuffing their faces rather than out viewing cribs.
The reality, however, is that the property market never truly stops. Instead, any slow-down is caused because most agents are thinking of stocking up for Christmas rather than serving their clients. This year especially there are plenty of indicators that the market is active, and a star agent will be able to wrap up plenty of offers for their clients.
Recent market trends are certainly in homeowners’ favour. The number of sales agreed has increased by 1% compared to the same time last year. This allows more vendors to complete their onward moves and indicates some positivity sprouting in the housing market.
First time buyers are also benefitting at this time of year. When selling their property, wise men are pricing more realistically, as they realise following their agents’ frank’n’sensible advice means they are are myrrh likely to receive a gold offer. This allows more people to get onto the property ladder and keeps the market moving.
In the rental market, there are 8.7% fewer properties available in comparison with this time last year, which is excellent news for landlords – rents have risen by 0.8% this quarter which represents the largest increase at this time of year since 2015.
With such positive signs on display Yule probably be expecting to hear agents reporting that business is booming. However, despite the opportunities present this winter, many of our competitors have had a hard quarter. Foxtons have closed six offices across London, while Orchards of London are abandoning their high street locations in Acton, Chiswick, Ealing and Shepherds Bush.
By contrast, as a company Thorgills have continued to grow this quarter. We now have 55 staff members throughout our West London branches - an increase of 20% on last year.
Christmas has always been one of our busiest times of year – with a spike in online enquiries as well as properties put under offer – and we are open over much of the Christmas period to ensure we can deliver a market-leading service while our clients relax and enjoy the festivities.