Savills recently stated that the residential and commercial markets alike are benefiting from “a Boris bounce”, the Guardian reported. The newspaper shared comments made in a stock market briefing from the estate agency.
It commented: “The clear outcome of the general election prompted a strong close to the year as confidence to transact returned to the market.”
Savills isn’t the only organisation that has seen an improvement in the UK’s property sector. The Royal Institution of Chartered Surveyors (RICS) recently released its Residential Market Survey for December, which noted a clear upturn in sentiment among surveyors.
In fact, in the final month of 2019, 17 per cent more survey respondents saw an increase in enquiries rather than a fall - a stark contrast to November when this metric was in negative territory of -4 per cent.
As well as seeing the number of agreed sales increase, the RICS survey also found a rise in interest from new buyers. The number of agreed sales hit a positive balance of +9 per cent, which is the first time it’s been in positive territory since May 2019.
So, what does this mean if you’re looking at houses for sale in Retford? Firstly, that you’re likely to have more choice than in recent months, as sellers are getting the confidence to put their homes on the market.
However, the downside for new buyers is that property prices are also expected to increase in the coming months.