Christopher Baker, franchisee of Winkworth Exeter , gives an update on the local market:

“Since the announcement of the spending review on 20^th October 2010 we have seen a surge of activity from applicants registering and subsequent sales being agreed. The first two weeks of November have seen more sales agreed than in any other month in 2010.

The current transactional increase will continue through the middle of December when mindsets change to Christmas festivities. That said this year we have seen a larger than usual number of additional properties come to the market low-key, getting ready to launch early in the New Year marketplace.

In 2011 I think that we will see a large increase in stock levels as house price data of the last quarter of 2010 filter through to the media. With the good news stories of house sales, homeowners will look to market in spring when the garden looks at its best, which will mean a flood of properties coming to the market in the second quarter of 2011 which in turn could affect house values.

In terms of transactions in 2011, I expect to see them remain similar to the levels of 2010 at around 650,000(pre recession level of approximately 1,200,000) as the reality of the austerity measures offset growing finance availability.

My tip for 2011 is to beat the spring rush and get your house on the market in January when buyers are in the New Year – new start mindset and before they have an influx of new stock to the market in the second quarter”.

If you would like to discuss the market or how we can help you sell your property please contact Winkworth Exeter on 01392 422320.