Locally we have experienced a definite increase in offers and sales agreed in March even though viewings and new buyers were down. Generally more property has come onto the market, but in certain sectors there is still a shortage. Smaller bungalows are still in strong demand.

Although nationally asking prices rose, in the local BN16 area the average asking price increase was greater. Some agents are still being over optimistic on pricing, which is not helping sellers. This gets seller’s hopes up, then the agent reduces the price very soon after. The housing market is still being driven by the need for larger mortgage deposits and a healthy income for borrowers. There are now slightly more mortgage products to choose from, with a slightly less deposit needed and this should continue to ease over the year in this delicate climate.

Nationally there will be a rush to exchange contracts on properties over £1M due to the higher stamp duty rate taking effect from the 6th April.

Shaun Adams, director of Cooper Adams, comments: “There is the constant threat of increasing interest rates but in my view inflation is controlled much more now by the global economy and rising prices due to oil. A slight interest rate rise will be welcome for savers but home owners with mortgages will not nd it easy, especially if they have not had a wage rise for some time. On the positive side properties priced right are selling well and the future looks brighter.”

Cooper Adams obtained information via Rightmove on national & local pricing and trends. The properties were on sale by estate agents on 31st March 2011 and advertised on Rightmove.co.uk.

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