Market Update - February

On the Move.Homeowners,First Time Buyers Property investors,Portfolio Landlords.What will 2020 bring for Yorkshire's property Market.Here is my view.The yorkshire property market was most definitely held back last year by a huge CLOUD of uncertainty, casting doubt in people's minds as to whether it was the right time to buy.The general election result has removed the cloud now and although markets remain highly localised; In Yorkshire I forecast 2% growth in 2020 increasing to 3% per annum for the following 3yrs then falling back to 1% in 2024 producing a 5year forecast of 12% growth in Yorkshire.Fundermentals of the UK property market remain strong, but their can be no doubt that Brexit issues going forward in 2020 onwards will still have a role to play this year.Changea most definitely create opportunities and I am confident that with the level of enquiries into my website through Yorkshire that 2020 will be a very positive year ahead.Interest rates are still very low and this is a great advantage for the market.Banks & Building Societies have been .re generous in terms of mortgage lending and I a believe all this points towards a busy year.2020 could also see the gradual process of the end of a period of very low Mortgage rates and at the same time squeeze affordability for some purchases. 

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