House sales in Wellington appear buoyant, reversing a national trend highlighted in a new report from Lloyds bank showing a fall in volume of sales across much of the UK – although there is no sign yet of prices falling.
“The truth is that our sales have been at the highest level in about 10 years and with demand outstripping supply,” said Roger Sattler, manager at Webbers. ”I think the biggest single issue is the lack of properties coming to the market and the available stock of houses for sale right across our region is down considerably.
“Buyers are taking advantage of the ongoing cheap mortgage deals but on the flip side there are potentially lots of homeowners doing exactly that but with re-mortgage and home improvements rather than moving in mind.”
“The UK property market has been short on stock overall for some years now,” agreed Nick Maddocks at Gibbins Richards. “That situation has been echoed here in Wellington where demand has far outstripped supply. As a consequence, we have seen some brilliant sales numbers through our Wellington office, and some very good prices have been achieved.”
Symon Jeffrey, Partner of Wilkie May & Tuckwood commented , “Sales are continuing to run at a 5-year record high. Just this month alone we have agreed 19 sales by the 16th of June, the highest on record for the Wellington office, this is evident by the amount of SOLD boards seen around the town.’
‘With the buyers and sellers desire to move, we continue to be very optimistic for 2017….we just need more property to replenish the stock we are selling!’