|‘Autumn is a second spring when every leaf is a flower.’ Nick Doyle, residential director based in St Albans, comments on what may lie ahead for the local Autumn housing market.
Positive sentiment and a return of confidence seems to have grown since the Summer, endorsed just this week by two recent statements by respected commentators within the industry. The Royal Institution of Chartered Surveyors (RICS) said its members were expecting house prices to rise over the next three months and a survey also showed that its member estate agents now expect house prices to rise 3.3 per cent a year on average for the next five years – the most confident prediction given in the survey since the June EU referendum vote. In a further glimpse of an autumn pick-up in activity, Rightmove have experienced an 8 per cent increase in visits to its website in the first full week of September, after the end of the holiday season, compared to the same period in 2015.
Locally, there are a number of encouraging signs as our offices have reported more activity with applicant registration especially in the middle and top end of the market as a number of buyers, who may have previously put their search on hold, are now putting their best foot forward now the waters are less muddied. We have also seen an uplift in enquiries from both Zoopla and Rightmove and perhaps the pent up demand may well unravel in the coming weeks.