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Healthy Signs for UK Property Market – the Country Perspective
November 15, 2009Article by Ray Withers
The Property Sales market for the southern UK country market has witnessed an increase of power to sellers, with prices being driven up during the Autumn of 2009. With 4 out of every 5 properties coming onto the market being selling, those with property for sale have taken advantage of favourable market conditions.
In fact the market is performing so healthily at the moment that prices have returned to 0.1% off the levels of last year’s peak, indicating that despite dire predictions the worst of the recession as been bypassed, and that the property market is rebounding.
Those people interested in selling their property could find it difficult at the moment to find new property, as there are signs of a real shortage in suitable property for sale available, especially in popular areas. It is thought that sellers would be in the most advantageous position if they already have a buyer for their property.
Despite this, there is still a profitable interest in the country market, due to an increased number of current Londoners looking for opportunities for buying outside the big city-. It is estimated that 11% of registered buyers are looking to migrate to the countryside from London.
The property rentals market in the countryside continues to enjoy a steady improvement, even with a relatively limited range of choice due to decreasing stock levels. Available properties for rent are down by 35% from the same period in 2008, though applicant registration levels have increased by 55%. This has served to stabilise and even raise rents in the countryside. There has also been an increase of 12% in renewal rates, indicating that many people in country accommodation are choosing to remain their properties for the foreseeable future.
Many thanks for research carried out by Hamptons
Written by: Christopher Chadd