Third Quarter Report 2018
Quarter 3 Market Report
By John Kelly
The weather may have cooled of late but the market continues to flourish, even in the absence of sunshine, with stellar performances being reported from each of branches across Glasgow and the West.
In general terms it’s still very much a ‘sellers market’ with inventories of current stock relatively low and supply still some way short of buyer demand. This has been the case throughout 2018 and the market shows no signs of changing tact anytime soon, although recent Corum led consumer feedback would indicate that this is by no means putting off potential buyers.
Buyers are still proving to be hungry and throughout Scotland we are seeing competitive closing dates and premiums well in excess of home report. Quite simply, we're finding that the properties we list are flying - our biggest issue is simply getting enough stock to feed the market.
In spite of a marginal increase in Bank of England interest rates, mortgage rates remain at least, if not more competitive as lenders battle each other for ‘market share’. A whole raft of new financial sercives products have come about and this is presenting an enticing hook for consumers to take on the housing market.
The year long momentum shows no sign of abating into the beginning of the last quarter of the year and I firmly believe this form will continue into 2019. With Brexit looming, there is no certainty as to what the market may bring, but it's a well held belief here at Corum that the property market will power through.
John's Top Tip: Present your home boldly with pride, set your asking price conservatively and allow us to deliver the best the market has to offer