Market Comment

By The Beresfords Marketing Team - 24 March 2011

Paul Beresford

As we’ve moved forward into 2011, there have been very mixed reports in the media, most of which are distorted by the tendency to quote national statistics – there is no such thing as a national market!

In every part of the country, factors such as jobs, close proximity to major cities, road networks and airports all have a strong bearing on the local property market and with London right on our doorstep, Essex ticks all the right boxes in this respect.

January and February 2011 have proved very positive, a good sign for the Spring. Sales levels increased by 21%, viewings up by 65%, buyers looking for property was up by nearly 70% and those looking to sell their property increased by a similar amount.

These results indicate continued confidence in the housing market in Essex whilst other areas of the UK are still finding the market challenging. But historically, that has often been the case. With new homes building at its lowest for nearly 100 years, demand for property locally is likely to remain strong.

The lettings market is also buoyant with renting now no longer seen just as a short-term option. Many tenants see renting as a very flexible and cost effective option. Properties let have increased noticeably and the number of tenants registering and out viewing has risen by over 20%.

2011 has started much stronger than last year and I’m sure you will have seen homes being sold and let in your local area, some very quickly, so all in all there continues to be positive signs for the Essex property market.

Paul Beresford, FNAEA, MARLA
Chairman/Managing Director