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Residential

Surprisingly warm weather brings unexpected surge to property market

Q4 2011

The unusually balmy autumn weather appears to have brought a breath of fresh air to the traditionally quiet pre-Christmas period.

The unusually balmy autumn weather appears to have brought a breath of fresh air to the traditionally quiet pre-Christmas period.

Instead of 'battening down the hatches' in anticipation of the winter hibernation, there has instead been a notable increase in activity as the mild temperatures appear to have lured buyers out of their festive cocoons to view what the market has to offer.

The most recent figures show a marked difference from the same period last year. There have been a healthy number of viewings across all the levels of the market over the past few weeks - 11% up on last year. On top of that the number of actual offers made is 32% up on last year. With only three working weeks left until Christmas these are surprising results but perhaps telling of a possible boost in confidence in the New Year. Michael Fiddes, Head of Agency at Strutt & Parker comments that, "We are hopeful that this mini surge in the market will set a strong precedent for early 2012 and that people will realise that houses are coming on to the market and houses are selling despite the gloomy headlines."

It would appear that the sensible buyers out there have realised that this time of year can actually offer great bargains and good opportunities to offer on houses whilst there is a lack of competition in the form of other offers from buyers who have called it a day for the year. Fiddes adds, "Buyers should not forget the merits of this unique buying period and should not give up on the hope of securing a home before Christmas."