Time to make your move in the Portsmouth property market
As a team, we’ve got more combined years working in the Portsmouth property market than some of us might
care to admit! Of the many great benefits to having so much experience, probably the most important is
having seen all the market's ups and downs.
This experience puts us in a better position to advise our clients on the best time to make their move.
Back in 2000, the market saw an almost unbroken run of growth in both house prices and sales volumes. For
the eight subsequent years, prices rose by an average of 12.9 per cent per year, and by the end had lifted the
price of the average home by £83,000.
That was only part of the story. Transaction levels built up steadily over the period and by 2007, 5.4 per cent of the entire housing stock was changing hands each year.
As we all know, the credit crunch brought things to a sudden stop. A new market cycle began, which saw
more subdued levels of market activity. This cycle is now trying to come to a halt, but Brexit uncertainty has
delayed the start of its successor. At the time of writing, it's still 18 days until the 2019 election. The result has
the potential to be decisive.
The end of the market cycle is often the perfect time to make your move. Journalists often rely on data which is
at least three months out of date. The reality on the ground, as described by the multitude of buyers and
sellers we speak to every month shows that things are finally starting to pick up in Portsmouth. There are
opportunities left, right and centre.
If you’d like to make your next move with us, we’ll tell you all about them.