Is 2013 the year when everybody moves out of London?
As promised in a previous post on this blog, more estate agents have been predicting the look of the property market in 2013, including Strutt & Parker who suggest there will be an increase in the numbers of people moving to counties outside London as sellers take advantage of the wide price gap between the two.
James Mackenzie, head of Strutt & Parker’s Country Department, said: “There is a general murmur in the market place that there may never be a better time to move to the country in terms of value for money, and I believe next year we will see even more families flocking to the countryside, especially in commuter belt areas”.
A second prediction is for a continued decline of interest in refurbishment projects coupled with increasing concern about homes’ eco-friendly elements. “Environmentally friendly, modern homes that require no work are replacing the Old Rectory as the new ‘dream home’ as people’s priorities change,” said Mackenzie. “Eco-sensitive houses and properties that are extremely cheap to run with new energy saving systems in place will do particularly well in 2013. We will see increased demand from both ends of the market – downsizers looking for the perfect home to move into with no additional costs, and families looking to move up to the next run of the ladder.”
Meanwhile Brendan Cox, Managing Director of Waterfords believes that the year ahead will follow in a similar vein to 2012 and there will be modest increases in property prices of 1.5-2%. “Taking into consideration inflation levels and the ongoing banking situation where lenders are reluctant to lend, the year ahead is going to be very alike to the one we have just had,” he said.
Finally, online estate agent Hatched.co.uk, is predicting transactions will rise during the first six months, with house prices potentially climbing by as much as 2% across the year. And, unsurprisingly, director of Hatched.co.uk Adam Day thinks 2013 will also witness the demise of the high street agent.
“High street estate agents will face ever stronger competition from their online counterparts in 2013,” he said. “By cutting overheads and streamlining processes, online estate agents will account for over 10% of the market within the next two years, putting 1,400 high street agents out of business. For every online estate agent that opens, nine high street agents will close, saving the public approximately £350 million in unnecessary fees.”buying house, football, moving house, real estate, renting, selling house
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