As we approached the end of 2016, there has been no sign of the property market slowing down in East Renfrewshire. We have just experienced one of our busiest Decembers with families as keen as ever to secure a home in the coveted catchment areas for the local schools.
2016 has certainly been an interesting year, particularly following the initial shock of the Brexit vote. Reassuringly, however, values and sale prices have regained their previous momentum and risen impressively since June. Compared to the same period last year, our overall sales at Nicol Estate Agents are up 26% following the Brexit result, and there are clear indications that prices and sales will continue to rise well into 2017.
A positive year and future predictions
Douglas Nicol, managing director of Nicol Estate Agents comments: “Overall, our sales and new property listings are up on the same period last year. Following the Bank of England’s decision to cut the base rate to 0.25%, UK interest rates are now at a record low. In many areas throughout East Renfrewshire, we have seen a shortage of available property with demand outstripping supply, resulting in quicker sale times, closing dates and premium sale prices – in some cases, the highest prices achieved in many years.”
The average property value in East Renfrewshire is estimated to be £210,386 for December 2016 – an increase of 1.75% from September 2016, and a rise of 8.34% over the past year. Evidently, confidence is returning to the Scottish housing market and we remain cautiously optimistic here at Nicol. Naturally, we’re likely to see a small short-term reduction in the number of sales when Article 50 is invoked, but we strongly predict that the positive, upward trend we’re experiencing at the present time will continue in the long term when formal arrangements are finally made.
Selling your property in 2017
Thinking of selling in the New Year ?
Pre-register your home with Nicol Estate Agents and receive a 25% discount on your sales fee!
Call Daniel on 0141 616 3960 for a free, confidential market appraisal.
* 25% sales fee discount applies to all new instructions in January 2017.
The housing market will forever retain an element of uncertainty, no matter the political and economic climate. For this reason, it’s absolutely crucial to consult an experienced, reputable agent who has in-depth knowledge of the current market and the area in which you are planning to sell or buy a property. With a combined experience of over 80 years, out team is highly accomplished and possesses a valuable understanding of national and local property markets.
Our personal approach, attention to detail, and dedication to effective client communication and support ensures your love goes as smoothly as possible, from start to finish. We operate extended opening hours, 7 days a week, to suit the busy schedules of you and your family.
Whether you’re ready to sell your property, or you are simply curious about the value of your home, contact us today to arrange a free consultation and market appraisal.
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