Although nationally the stories are conflicting; slumped prices in the north, inflated prices in London, this area sees the best of both worlds; a desirable in demand region with limited housing stock retains its property values.
This by no means implies that property prices are skyrocketing in the area but it does mean property values are relatively protected and stable even in this economic climate.
The key thing we are seeing is that we are continuing to sell property across all our offices and at all price ranges so, despite any negative press, people buying in this area are able to gain finance and are keen to invest in property here.
In terms of housing stock there are several limiting factors at play meaning the supply of property, or often in some cases the choice of property, isn’t as abundant as many potential buyers would like.
There are new homes coming to some parts of the area but as we have so much natural beauty and such a diversity of wildlife there are many designated sites of scientific interest and protected areas which cannot be built on.
The supply of second hand property can be stifled by homeowners feeling protective, not wanting to put their property on the market before finding something to purchase, this has somewhat of a cumulative domino effect and stops that property coming to the market and attracting more buyers who are also sellers.
A solution to this, which is becoming more common, is to put the property on the market whilst searching for a new home and when it sells move into rented accommodation if a suitable property to purchase has not been found. This position has the added benefit that when a suitable property is found the buyer in rented is ready to make a move.
In reality there are always people on the move, be it to get closer to a new job or desirable school, due to divorce or bereavement, to accommodate a growing or shrinking family or because they want a clean canvass…and so the wheels do keep turning.
Please feel free to contact any Mackenzie Smith Office for advice or to arrange a free market appraisal and valuation to look more in depth at the property market and where you stand.
Fleet: 01252 812121 firstname.lastname@example.org
Hartley Wintney: 01252 844015 email@example.com
Hook: 01256 764666 firstname.lastname@example.org
Farnborough: 01252 375999 email@example.com
Ash Vale: 01252 353030 firstname.lastname@example.org