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Chartered Surveyors and Estate agents

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Performance of the Residential market in 2014 Part 2

The rule of thumb is that a seller’s market is where more than 50% of the property on offer in any given period is sold. Less than 50% constitutes a buyer’s market. In some UK hot spots, on this measure at least, peak sales hit as much as 75% during 2014 – hence the spectacular headline price increases that you may have read about.

In Alderney, alas, despite an improved performance on the previous year (see my 3rd January blog, below), we still struggled to hit 10%; the graph below shows the year’s performance by quarter and for the whole year -:

The Alderney market remains very firmly in ‘buyer’s market’ territory but given the significant increase in demand in 2014, because of improved affordability resulting from the downwards price correction, we remain optimistic that 2015 will see a distinct (though probably unspectacular) improvement in its performance against this particular measure.

PS – very pleased with our own performance in 2014. The eagle-eyed may spot that on the measure of ‘sales : listings’, above, we out-performed the opposition by some margin. More on this in a later blog.

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