June 2015 in Basingstoke has proved to be an interesting month. We have seen a 60% rise in sales in relation to June 2014, however there has been a decrease in properties coming to the market, causing severe shortages in certain areas.
Why? The election is over with, mortgage rates remain low and unchanged, and unemployment is down, house values have risen consistently making them a good investment. Is it something else? Maybe the national housing shortage we so often hear about?
The royal institute of chartered surveyors were quoted earlier in the year saying:
“Alongside an increased flow of second-hand stock, it is absolutely critical that the new government focuses on measures to boost the flow of new-build.”
The affordability and availability of homes in the UK is now a national emergency and addressing this crisis must be the priority for the new government.
“The last time we were building 300,000 homes was in 1963 under Harold Macmillan’s Conservative government, which utilised both public and private building.
“We need a coherent and coordinated house-building strategy across all tenures.
Whilst available property to sell is at a shortage sellers are getting a premium for their investment with a 20 % rise in the last 2 years, making purchasing either your first property or your larger property a sound investment.
At Barons, we pride ourselves on straight forward honest advice, so if you would like a market review on your property, or just a chat regarding the ongoing property market, please call myself or any of my staff anytime who will only to pleased to help.
Enjoy your Summer
Kevin Penfold
