AS we wave goodbye to 2012 it would seem natural to take a look at what we expect for the housing market in Torquay though 2013.
The global economic outlook remains gloomy and therefore it would be prudent to predict another anaemic year for activity with a similar number of transactions at similar prices.
However, here at Stags we have a positive outlook for 2013, especially at the upper end of the housing market, which reflects our view that on balance the potential economic risks are not expected to fully materialise.
Although the stagnant house price performance over the past years is expected to broadly continue in 2013, we believe there are more reasons to be optimistic than pessimistic over the medium-term.
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Our extensive network of branches throughout the South West is beginning to report higher demand, which in turn is leading to quicker sales at premium prices, especially for 'no compromise' homes; those that show good value and compare favourably with properties of a similar type.
The number of applicants registering their requirements in December has risen 18 per cent year on year.
Interestingly reports coming from London indicate that the housing market in the capital is beginning to show signs that it is slowing down. Whilst this may not on the face of it appear to be good news, early indications are that this may explain the increase in buyers looking in the Torbay area especially buyers from the South East.
Logic would dictate that whilst the housing market in the South East has performed strongly throughout the recession, there was little pushing buyers down the M4 and M5 as house prices rose in the South East and fell in the South West.
Finally the increasing disparity between the West and the East looks like it may not continue growing, thereby encouraging the baby boomers to finally retire to this wonderful part of the world.
As ever competition between sellers remains fierce, presenting your property in the best possible light remains critical to the success of any marketing campaign, as is your agent's ability to place your property in front of the largest number of potential purchasers.
If you would like sell your property in 2013 please do not hesitate to call Stags Torquay on 01803 200160.