Three reasons to be excited about the value of your Portsmouth home
We’ve seen it all when it comes to the Portsmouth property market.
People have come and gone, homes have been bought, families have moved in, children have moved out and empty nesters have been born. But one ever present reality in the Portsmouth property market is the relentless march of house price growth, much to the benefit of local residents.
The first reason any homeowner in Portsmouth should be excited, is that their home may be worth a lot more
than they think.
There’s a lot of doom and gloom in the papers at the moment when it comes to the housing market. Yet the hard reality is that average prices here are now 179.6 per cent higher than they were in 2000, and have grown 37.7 per cent just since the credit crunch.
Next, is the growing desirability for our beautiful area. House price growth depends on a ‘dynamic equilibrium’ of supply and demand. While there has been some house building, the ever-broadening appeal of the area means that demand still outstrips supply and house price growth looks very sustainable as we go into the next housing market cycle.
Finally, comes the future. Standing as we are on the cusp of another housing market cycle, house price
growth is likely about to ramp up significantly. That means anyone moving now stands to gain the most from the next cycle.
Please don’t hesitate to get in touch for more information or if you are thinking of moving. We’re always pleased to see people drop into our office at Copnor Bridge or by all means give us a ring on 023 9282 6731.