Reason For Optimism In Housing Market
The Yorkshire housing market saw a much stronger end to 2012 than we have seen for a few years, with our offices reporting unprecedented levels of agreed sales towards the end of the year and the recent RICS Housing Market Survey giving reason for optimism in 2013.
Despite house prices continuing to fall slightly with average prices in Yorkshire showing a 2.1% decline over the last 12 months, compared to a decline of 3.5% a year ago, according to the Land Registry, recent government initiatives appear to be freeing up mortgage availability which is a good reason for positivity.
Current trends are leading the RICS Survey of leading agents to predict the most encouraging sales expectations since May 2010. We are confident that this surge of activity will continue into 2013 fuelled by a mortgage price war as HSBC launches a 1.99% fixed rate over two years.