Wigan Property Report January 2015

It's cold outside but is the property market in Wigan warming up?

How does January 2015 compare to January 2014?

Let's take a look

 

The Top 10 agents in Wigan put 237 properties on the market in 2014 but have put 262 properties on the market in January 2015 - An increase of 10%.

Only 6 agents list 20 or more properties and only 2 list 50 or more.   

 

I am happy to report our new instructions are up a whopping 40%!!!

The number of Sold properties does not show the same increases but I expect this to be a glitch which will adjust itself. I anticipate the trend of more properties coming to the market this year than last year to continue which will convert into more sales.

Time will tell !

 

The Top 10 agents registered 190 properties Sold in January 2014 with only 2 agents registering more than 30 sales.

Only 172 properties are registered as Sold in January 2015 by the Top 10 agents, a reduction of 10% Our own figures are very encouraging !

 

Despite this overall reduction we have increased our sales by 37%

 

Only 3 agents registered over 30 sales and only one -  ourselves  over 40 sales.

 

What Can We Expect?

I anticipate the market in Wigan will continue to recover although our market prices are still between 5% and 12% less than they were in 2007 depending on your location.

Mortgages are still relatively difficult for 1st time buyers to arrange but the situation on this front is getting better all the time. If you would like mortgage advice just pop into one of our offices or call us and we can arrange a free no obligation consultation with our Independent Mortgage Advisors.

 

 

The changes to stamp duty have significantly helped buyers and sellers in Wigan and most people will pay less to move this year than they did last year.

 

There is a General Election this year which does add an element of uncertainty to the UK Property Market but I do not expect this to greatly affect our market .

 

Overview

 

In my opinion it is still a buyer’s market but conditions are a lot more favourable to sellers than they were a couple of years ago.

 

I anticipate that we will see more properties coming to the market this year than last and consequently more sales will be achieved.

 

Look out for my February 2015. Wigan Property Report and let's see if I am right!!

Happy House Hunting

 

If you require any advice on buying, selling or renting your property in Wigan or have any related subjects you would like me to write about email me at alan@alanbatt.co.uk

NB Intel provided by Zoopla and Rightmove Postcodes analysed WN1, WN2, WN3, WN4, WN5 and WN6