Housing Market Hots Up

Here at Andrew Granger & Co, we have seen a surge in the number of homebuyer surveys being carried out since the election as purchasers race to complete.

Geoff Milnes, our Head of Survey, found that the start of the year to be quite slow at first as the spectre of a hung parliament led to uncertainty in the housing market but the election result saw confidence return with renewed vigour. 

He said:

 “We are now booking a fortnight ahead, and we are carrying out surveys for prospective buyers on residential properties across the board, including superior homes in the multi-million-pound category, the fact that people are commissioning surveys demonstrates a clear intention to buy.

In the run up to the election, mortgage valuations carried out fell by 80 per cent but are now running at four times their usual level. Going forward, I expect house prices to rise driven by more buyers coming into the market, the continuing shortage of new homes and a knock-on effect from the London property boom. The number of homes coming onto the market is set to increase too, as it did after the last election, but I think it's unlikely this will be enough to cause prices to fall as some reports have suggested."

If you would like some more information on surveys for your home, why not get in touch with our Surveys and Valuations team on 0116 242 9933 or email geoff.milnes@andrewgranger.co.uk