- January 12, 2016
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Humberts who specialise in residential, rural and commercial advice have said that property values across the south east have seen a dynamic growth of nearly 8% this past year and they give warning to “a serious shortage of property available to buy is holding back buoyancy in the market”.
Nick Barnes, the author of the Humberts report stated that “Buyer demand has been encouragingly healthy, but frustration is building and the expectation gap between asking prices and offers still remains an issue. As a result, average monthly sales across the south east region are 25% down on last year according to Land Registry data”.
He continues “We expect to see the supply and demand imbalance persist for some time, in part due to nervousness about looming interest rates in the New Year and the resulting impact on mortgage payments and disposable income, but also due to further tightening of the mortgage market with the arrival of the EU Mortgage Credit Directive”.