BOURNEMOUTH HOUSE PRICES Oct 19
As reported previously by Steve and Claire our local market in Bournemouth Christchurch and Poole changed from a Sellers Market to a Buyers Market in September 2018.
HOUSE PRICE GROWTH in the Bournemouth District From October 2017 to September 2018 was a reasonable 3.99%. However since then it has had a small drop of -1.1%.
This is the month on month average BH price growth since last October:
The good news is buyers are still buying. They have become much more cautious as we get closer to Brexit. They are taking more time to view and make decisions as well as double checking finances. They are happy to commit to buy though at the right price.
SELLERS ADVANTAGE – there is a pent up demand growing from those who want to buy. Once confidence returns that pent up demand is likely to create a surge in the market kick starting price growth again. The good news is buyers are still buying. They have become much more cautious as we get closer to Brexit by taking more time to view and make decisions as well as double checking finances. They are happy to commit to buy though at the right price.
In less than a month we could have a Majority in the House of Commons and some certainty over Brexit. This may well change the mood in the market and release that pent up demand. The 27th of December is also one of the busiest days of the year on Rightmove when would be buyers have a little look.
Seller who are already on the market at this time could be the first to benefit from the December election, if the result favours the Property Market.
Clarkes will be selling property throughout this period and advising our vendors on the most appropriate marketing and pricing strategy to take.