Sellers warned to act now as surveyors predict a boom in the housing market

Sellers warned to act now as surveyors predict a boom in the housing market
Natasha Firman, of Winkworths

The latest housing market report from The Royal Institution of Chartered Surveyors [RICS], for December 2019, shows a surge in house sales since the General Election, with some analysts forecasting a boom in 2020 following three years of Brexit uncertainty.

According to the RICS, agreed home sales rose for the first time since May, and expectations of future sales have jumped.

The report predicts a rebound in both the market in London and in the South East which will start to put up prices, with 61 per cent of surveyors expecting prices to increase over the next 12 months.

The Chief Economist at the RICS, Simon Rubinsohn, said: “The signals from the latest Rics survey provide further evidence that the housing market is seeing some benefit from the greater clarity provided by the decisive election outcome.

“The sales expectations indicators clearly point to the prospect of a more upbeat trend in transactions emerging, with potential purchasers being more comfortable in following through on initial enquiries.”

Local property experts say the market in Tunbridge Wells and West Kent has ‘got off to a great start’ in 2020.

Ross Davies, Partner at London and Tunbridge Wells-based Knight Frank, said: “The early signs are encouraging as we see greater buyer engagement. To say that we are seeing a rise in house sales would be premature, but it certainly seems as if 2020 will yield more sales for all agents than the past few years.

“The latest report from the Knight Frank research department says that we should see a one per cent rise in prices in 2020 and an 11 per cent rise in prices over the next 5 years.”

Other estate agents agree. Natasha Firman, Director at Winkworths, based in the High Street, added: “The market has got off to a great start this year, with properties priced correctly going under offer quickly.

“We believe increased activity will improve liquidity for many properties, particularly the larger ones, which more often are subject to chains. As there has been a shortage of properties for some time, demand is high and there are many buyers out there keen to move.

“There is a lot of positive sentiment in the market with spring just around the corner, and we’d strongly encourage anyone thinking of moving to get their properties on the market now instead of waiting until March/April time.”

“Don’t procrastinate, if you want to move then get on and sell and buy,” added Mr Davies.

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