Published: 06/12/2019As a team, we’ve got more combined years working in the Leeds property market than some of us might care to admit! Of the many great benefits to having so much experience, probably the most important is having seen all the market's ups and downs. This experience puts us in a better position to advise our clients on the best time to make their move.
Back in 2000, the market saw an almost unbroken run of growth in both house prices and sales volumes. For the eight subsequent years, prices rose by an average of 14.4 per cent per year, and by the end had lifted the price of the average home by £131,000. That was only part of the story. Transaction levels built up steadily over the period and by 2007, 4.4 per cent of the entire housing stock was changing hands each year.
As we all know, the credit crunch brought things to a sudden stop. A new market cycle began, which saw more subdued levels of market activity. This cycle is now trying to come to a halt, but Brexit uncertainty has delayed the start of its successor. At the time of writing, it's still 18 days until the 2019 election. The result has the potential to be decisive.
The end of the market cycle is often the perfect time to make your move. Journalists often rely on data which is at least three months out of date. The reality on the ground, as described by the multitude of buyers and sellers we speak to every month shows that things are finally starting to pick up in Leeds. There are opportunities left, right and centre. If you’d like to make your next move with us, we’ll tell you all about them.
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