Despite it being the middle of December we can report that new homes are selling either at the completed stage or even in some cases off plan.
This confirms to me that the market will be busy in January. Irrespective of the economy and general press coverage there is one universal fact; if supply cannot meet demand then sales will quicken and prices will rise.
I have spoken to a number of developers in the industry and they confirm the same thing.
Values are sometimes difficult to predict because the market has almost been driven down to a ‘micro’ level where there is a difference due to the type of housing, mix, supply and this is also affected by transport links and notably schooling.
This means a very individual approach to valuation is important sometimes to the point of whilst not ignoring previous evidence starting with a clean slate each time.
Ed Mackenzie Smith