Autumn Report

It hardly seems possible that we are just over a week away from the end of October and the shops are gearing up for Christmas. Autumn has definitely arrived, and Chandlers Ford has taken on a new look with all our trees turning to the beautiful array of autumn colours that leave us in no doubt about the time of year.

Once again, we have shared with you below the latest Rightmove report, as it sums things up very well. The headline is particularly appropriate, highlighting a level of resilience in the market but not strong enough to support the normal autumn bounce.

The stock of property for sale remains high and whilst buyer demand is healthy it is not a match for the volume available. There is no doubt that many people have one eye on the budget and, as we move into November it may well become both. This is understandable given the speculation around Stamp Duty, National Insurance on landlord income and Capital Gains Tax on homes over £1.5m. Hopefully, as is often the case, the speculation is not as bad as the event itself.

In times like these, we have to simply get on with it, roll up our sleeves, and work harder than ever to achieve results. Our team are certainly in this space, which is highlighted by the number of sales agreed so far in October. To be consistently selling over 50% of the market, and more properties than all other agents combined, is an astonishing achievement and testament to our outstanding people here at Sparks Ellison.

The lettings market remains buoyant for landlords wanting to let a property, with demand still outstripping supply. The availability of properties has lessened and that will continue as more landlords sell up, nervous about the Rental Reform Bill which is due to come into force next year and continuous policies to disincentivise buy to let opportunities. From a landlord perspective and those that decide to stay in the market, it will ultimately lead to higher rents and better yields being achieved but perhaps not such good news for the tenants that need homes.

As always, we are here to help, so please get in touch with any questions about your property and the market. You can be assured of honest, balanced advice from experienced, knowledgeable people.

Warmest wishes

Adam, Mark and the team