Gloucestershire Estate and Lettings Agent Move has opened a new office in Clarence Parade, Cheltenham. This investment in the town shows confidence in the strength and the future of the property market in the county.
Founded in 2013 by George Tatham-Losh a former Young Businessman of the Year, the business has gone from strength to strength and has another office in Cheltenham and one in Gloucester that was opened in the Spring of 2018.
George said: “Despite the challenges of the pandemic we have managed to grow. When we first launched, we promised to offer a new and fresh approach to property sales and lettings and it is this approach combined with investment in technology and hand picking what we consider to be the best property professionals in the area that has seen us prosper”.
Coinciding with the opening of the new office. Move has made a number of predictions about the Gloucestershire property market:
Move predicts that there will be a degree of deflation in property prices, in all probability starting with the end of the stamp duty holiday at the end of March. This is unless of course, this is extended which may be announced in today’s budget. Growth in sales prices reached a six-year high of 7.3 percent in December, according to the Nationwide House Price Index, following six consecutive months of jumps in the rate of annual price growth.
Move expects activity levels to remain buoyant, fuelled by the stamp duty holiday, homeowners desire for more space and historically low, affordable new mortgage rates. They are likely to dip though when the stamp duty ends. November and December mortgage approvals for home purchases rose to the highest level since summer 2007, according to the Bank of England’s (BoE) latest money and credit data. This could be further boosted by the low deposit mortgages that could form part of today’s budget.
Working from home is likely to be a permanent feature of many employees’ lives for at least some of the working week.
Others may find that commuting is still a necessity – in order to find work when the lockdown restrictions have been ended.
Existing property portfolios owners will look to expand their portfolios and some will dip their toe into the water, prompted by strong returns, demand for rental properties and attractive finance options.