122 PROPERTY VIEW By Richard Blake of Winkworth Dartmouth
Fantastic publicity but we all know it should be Number 1! The national press has been getting on the band wagon again, publishing articles about the general public’s expectations for UK house prices over the next six months. It appears that people in the South West expect prices to rise by some 4.7% although quite how they reached this number has not been explained. Yet again we are talking about the lack of stock keeping prices relatively constant and a sense of stability appears to have settled in the market. Confidence is growing and there is an active pool of buyers competing for the small number of properties available. These sentiments are also ringing true here in Dartmouth with any properly priced property coming to market attracting plenty of interest. Least confident, strangely enough, are the Londoners where after many years of considerable growth in property prices, they have actually fallen on average by 1.9% over the year to March. The overall outlook, both economically and politically, is
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MORE CONFIDENCE EMERGING of course still uncertain, although this has been the case for so long that people appear to be thinking let’s just get on with our lives. However, once a buyer is found for a property the
t was reported in the national press and media over the past weekend (mid June) that Dartmouth was third in the league for the best seaside towns to be visited.
transaction process is unfortunately taking longer and longer. The University of Oxford has recently released a research report that suggests the greatest barrier to improving transaction times is technology and the lack of standardised digitalised data. They call for collaboration investment across many areas of the property industry including government, owners and technology providers to establish digital data standards and ownership laws. They conclude that progress will likely be slow so we may have to wait some time for transaction times to quicken. I am sure we all look forward to any improvements. Here in Dartmouth, we are well into early Summer although the weather is more like January during early June. Our expectations are broadly in line with the public sentiment in that the market is likely to get busier quickly – hopefully, therefore, we will soon see greater stock coming to market.
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