Increased confidence boosts New Forest property market
30th January 2014
Rising house prices, continued low interest rates, optimistic economic prospects and the launch of the Help to Buy mortgage guarantee for second hand homes, as well as those newly built, have prompted increased activity and interest in the local property market with experts predicting a busy time ahead.
Mike Wilson, a Partner with Moore Blatch in Lymington, said these factors have boosted confidence and have already led to an increase in enquires from a wide range of buyers.
“The New Forest market is always strong but we are now seeing more activity in all price brackets from first time buyers through to those looking to move up the housing ladder,’’ he said.
This rise in enquiries follows news from the British Bankers’ Association (BBA) which says that the number of mortgage approvals granted to home buyers by Britain's high street banks lifted to a six-year high in December in a further sign of blossoming consumer confidence.
Mike said it is the combination of factors which is creating the widespread confidence and activity.
“We are finding that buyers who have delayed moving for a couple of years now believe that this is the right time to find a new home,’’ said Mike.
The prospect of needing just a five percent deposit has definitely encouraged more first and second time ’’
“The New Forest is a real draw, not only being a National Park, but also with its’ proximity to Lymington and its’ beautiful Georgian market town, boutique shops and full programme of racing and regattas during the summer. In addition, encouraging economic indicators have given this market a real boost.”
He said families who may have delayed a move have more confidence their current home will sell and the low interest rates will help them plan for the longer term.
For more details visit www.mooreblatch.com or contact Mike Wilson at Moore Blatch on 01590 625872.
Author: Mike Wilson