PREDICTIONS 2011
2011
Sales volumes “I predict that 2011 will deliver a similar
total of property transactions as 2010. The first few months of 2011 may be challenging for the sales market, but I believe the second half will be considerably
stronger.” Lee Watts, MD, Kinleigh Folkard & Hayward
“20 to 25 per cent down on 2010 – vendors are still too optimistic in respect of asking prices and need to experience a significant period of time with no interest in their own property before facing the realities of the current market. Only seriously motivated vendors will sell-
because they need to.” Simon Bradbury, Fine & Country and Thomas Morris Estate Agents “We are seeing a return of buy-to-let
investors, attracted by an increased range of specialist mortgages available and of course enhanced yields due to rising rents and falling prices. Given the shortage of First Time Buyers in the market this is a
Trevor Kent manages to
franchise his name and opens the first of a chain of burger bars in Gerrards Cross and Peter Burger King resigns as CEO of the NAEA in protest claiming he thought
of the idea first.” Mike Day, integra
12 JANUARY 2011 PROPERTYdrum
look to your balls
2011 might well be a tough year. But it might be better year too. We asked our readers to gaze into their crystal balls.
very welcome development.” Douglas Sleaper, Group Sales Director,
Townends Estate Agents “In 2009, 27 per cent of all our buyers
were from outside the European Union; this figure dropped dramatically in 2010 to just eight per cent, with 78 per cent coming from the UK and 13 per cent from within the EU. For 2011, we are anticipating numbers of UK, EU and international buyers to be similar to this year as the global economy is not showing any major
signals of change.” Laurence Glynne, Partner, LDG
Prices “Residential price indices suggest falls
from late spring peaks of between 2.1 per cent and 3.6 per cent already as new supply has failed to have been absorbed by first time buyers. Low base rates are likely to provide some solace for the UK housing market, but with sentiment at such depressed levels and with lending criteria remaining tough, it will remain a buyers market during 2011, with prices set to fall over the next 12 months. We continue to anticipate a fall in the major indices of between five per cent
and 10 per cent.” Kiran Raichura, Senior Research Economist at Colliers International
“It is possible that the first half of 2011 will see further house price decline, with signs of recovery coming in the second half of the year, the opposite of what happened in 2010.”
Douglas Sleaper, Group Sales Director, Townends Estate Agents
How will we respond to market
challenges? Training.
Brand. Innovation.” SiMon BraDBury, Partner, Fine & Country anD thoMaS MorriS eState agentS
“Will drop by approximately 10 per cent in 2011 – again a lack of demand due to the reasons outlined above will have an impact on prices. The only mitigating factor is that there will be relatively low number of listings coming to market. The low supply of new listings will be due to a general lack of “discretionary “movers. If vendors don’t need to move –they won’t. (They will stay where they are and retain their current relatively low interest rate
deals).” Simon Bradbury, Partner, Fine & Country and Thomas Morris Estate Agents “Although house prices have fallen by
less than two per cent in 2010 across the UK, this disguises a wide variation in activity. A notable improvement in pricing and sentiment, evident during the first half of the year which has been counteracted by an increasingly cautionary tone and heavy downward pressure on prices during the second half of the year. This negative pressure is expected to continue with an estimated five per cent decline in house prices across the UK expected in 2011 as
job losses intensify.” Catherine Penman, Head of Research, Carter Jonas
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