Antony Roberts’ experts are often asked for their opinions on various aspects of the housing and rental markets. Below, is a selection of our comments which appeared in the press in April.
Average house prices rose by an annual 1.7 per cent in March, according to Nationwide Building Society. Amy Reynolds, head of sales at Antony Roberts told The Standard: “The Middle East conflict has contributed to increased caution across financial markets. Mortgage rates have already edged upwards in response, and this is naturally becoming a talking point among applicants. We are seeing a slight softening in viewing numbers as some buyers pause to assess the situation; however, the underlying market remains robust.”
Halifax’s data presented a slightly different picture, with 0.8 per cent growth across the year but a fall in average prices of 0.5 per cent month-on-month. However, Amy Reynolds told The Daily Mail: “Serious buyers are still very active, with second viewings continuing and sales being agreed at levels typical for this time of year. While there is greater awareness of cost – for the right property, committed buyers are continuing to move forward with confidence.”
It is not just first-time buyers who are struggling with affordability; a growing number of second steppers are also finding it difficult to move up the property ladder. Amy Reynolds told The Telegraph that buyers might want to think about targeting a doer-upper rather than a finished property as it would be more accessible pricewise: “This might mean targeting properties with potential to add value through DIY home improvements, rather than big structural projects.” As competition for such properties can be tough, she suggests putting yourself in a seller’s shoes to make yourself more attractive to vendors: “It can, for example, be a benefit to move into rented [accommodation] or back with family. Being chain-free could also allow heavier negotiation if a seller is looking for a quick sale.”
The number of homes bought and sold fell by 41 per cent in March compared with the same month a year earlier, according to HMRC. Amy Reynolds told The Daily Mail: “On the ground, we saw some softening in initial viewing levels in March as people took stock of the situation in the Middle East and what impact this might have on borrowing costs. However, since then, things have picked up and the past week has been very busy, with a strong level of viewings and serious offers coming through.”
The Bank of England held interest rates at 3.75 per cent once again in April. Amy Reynolds told PrimeResi: “While a hold from the Bank of England was expected, as ever it’s the tone and forward guidance in the minutes of the meeting that is just as important. As far as the housing market is concerned, the underlying need to move remains strong and, for well-priced, high-quality homes, demand continues to hold up. In terms of pricing, the closer the asking price is to true market value, the greater the likelihood of securing a successful sale.”
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