It’s been an unusual winter so far, we’ve seen some incredible numbers in terms of volume of transactions however now the opposite is occurring – a shortage of property going to market.
Seasonally this is how we expect winters to pan out. The cold weather and presentational detractions often hold back many sellers to the spring market.
Yet we also have a few other factors at play. Those factors are an election and an interest rate announcement looming. Most sellers are conservative by nature, some of these factors just plant that extra seed of doubt.
So we should see a rather big rush of listings appear after the election campaign. History has shown that growth in property prices slows after an election has taken place.
Deep this year will be interesting to say the least. A large supply of property could hit the open market – throw in a couple of interest rate movements and it makes for a fascinating spring market.