Our new residential magazine looks at what's happening in your area: 'We expect good levels of buyer activity.’

Despite the almost daily reports of economic turmoil, momentum in the housing market was maintained through much of last year, albeit at a surprising pace. There was strong activity at the start, followed by a disappointing spring. High summer saw interest returning, but the early autumn market failed to live up to expectations. Most surprising of all was the late autumn run, which saw our strongest period for sales at a time when buyers normally focus on Christmas.

Overall, the best deals were made within the first six weeks of marketing, with realistic pricing and a big launch critical to gaining vital early interest. Aside from the sale of recently launched houses, 80% of sales resulted from a price reduction of 5% or more.

A number of clients asked if we could offer their property for sale 'off market'. While this can work well in buoyant times, when buyers are willing to pay a premium and avoid competition, today they are fearful of paying too much and would rather see how the market responds before taking the plunge. A good example of this is a house we sold last July. We offered it quietly for six months, had six viewings and no offers. Following an open-market launch in May, we generated 18 viewings and the property sold in excess of the guide price.

In terms of location, interest was still focused on the traditional hotspots of Chester, Tarporley and Malpas, but parts of North Wales saw a return to form, with the Overton-on Dee area and The Vale of Clwyd particularly sought after.

This year, we expect good levels of buyer activity in the first quarter, followed by a greater supply of houses to the market in early summer. Thereafter, the outlook is somewhat unclear, but there is certainly little chance of an increase in prices in the short to medium term.

Read the full magazine: &homes - Cheshire & North Wales