Low Interest Rates Still Driving The Market
There is currently a huge demand for properties. This is because of the historically low interest rates.
More people are buying properties now than in the previous 5 years. Volumes are definitely up as many renters have recently entered the buying market.
Apart from the stronger demand, there is also more stock coming onto the market.
Most properties are selling for less than their anticipated prices. Yet they are still selling. This is due to the demand for ownership as opposed to renting.
First-time homebuyers lead the field. This is because of their desire to get a foothold in the property market.
This pent-up demand for good value properties may be just the medicine for people on the fence. They could consider listing their property now, rather than waiting and seeing.
