Expectations for 2019 property market
As we are nearing the end of 2018, our property experts have put together what we foresee will be the biggest factors influencing the local property market in 2019, based on current information.
Brexit
While the media covers Brexit with daily news, it is easy to get distracted by the many unknowns March 2019 might bring – with some possible outcomes predicted to have a lasting impact on the housing market. However, our local experience confirmed by recent Zoopla research, shows that the majority of Scots are optimistic about property values increasing in 2019, with 53% agreeing property values will rise regardless or Brexit.
Our property experts recommend you don’t get deterred by general doom and gloom, set your own agenda for your property goals and speak to a local experienced agent that can advise you on the various micro trends depending on location of your property and the many other factors influencing property values.
Stock shortage
Driving prices forward in 2018 was the fundamental imbalance between supply and demand. What this means, is that as long as there are plenty of keen buyers, but a lack of good stock, property prices will continue to be pushed upwards. 2018 has seen homes in good condition being quickly sold at fantastic price points.
Our property experts recommend: if you want to achieve a good price and catch the eye of current savvy buyers, your best bet is to invest in cosmetic upgrades that go along way in adding value to your property before putting it on the market. Just speak to one of our experienced agents and they will be able to advise on how to spend your home improvement budget so that it adds the most to your property value.
Affordable financing
The active buyers we have seen on the market have been fuelled in recent years by the affordable financing options available. With many financial products from many lenders as well as a relatively low rate from Bank of England, buyers are spoiled for choice which keeps the property market financed and active. We believe this trend will keep into 2019, which means you will still have plenty of choice in financing that dream home.
Our property experts recommend: speak to a local experienced mortgage advisor who can understand your circumstances and offer the most suitable choices for your needs.
Local pockets/hotspots
West of Scotland has seen healthy property price increases overall; as usual, good schooling, commuting options as well as local amenities have an impact on value of properties. That being said, due to the increase in online delivery services, remote properties have increased their appeal too with many finally able to see their dream of living in a tranquil, picturesque location come true without sacrificing on comforts.
Paisley with its bi for City of Culture 2021, has seen visits to the town and surrounding areas rise by 17% over the last year outperforming the rest of the Glasgow City Region.
Clydebank is subject to a massive regeneration project in the next 7-10 years, so again, one to watch in terms of property investments. Villages like Cardross or Duntocher have character and appeal which means they will continue to be an interesting proposition for a certain market demographic.
The importance of local service
If you are thinking of making a move on the property market, don’t get trapped in a fixed fee arrangement with a corporate agent. You will have to pay that fee regardless of the outcome – so we suggest instead you speak to a local experienced property agent like ourselves who only gets payed upon the successful sale of your home. Not only that, but we are a local company, keeping offices on your high street, hiring and training local people and making business locally.