2023 Property Market: It’s not the headlines but the details that matter…

First of all, we suggest you do not look at the short term. Property has always been seen as a medium to long term investment and price only matters when you want to move. After all, first and foremost to the majority it is your home.

Whilst we hear reports of a depressed market and “experts” stating prices are to fall, most are not looking at the longer-term averages on what is really happening at the coal face.

The property market for the last 60 years has flourished with on the whole relatively static to moderate price growth over long period with sudden “boom bursts of activity producing rapid price growth” every 15 to 20 years. Most property booms last 18-24 months and then in the transition period back to normal market tends to be affected by the wider economic climate.
Whilst 2023 has started quieter, its normal and in fact if we look at the average transactions pre boom, (January 2019 and 2020) the national numbers of sales agreed in January 2023 is slightly higher than the average. (Figures from TwentyEA Data).

Naturally, local market activity may not reflect the national average and different areas may have different market places, but overall, from our point of view we are returning to a normal marketplace with less frenzy, less rapid house price growth and some property will just take a little more time to find a buyer.

2023 will be the year when the true professional, qualified and experienced team of estate agents will demonstrate their value in not only suggesting appropriate market prices and effectively marketing your home – they will also find a buyer and help negotiate the transaction through to completion.

So, if you are thinking of moving in #Anglesey for #Gwynedd this year, please consider asking one of our qualified and experienced marketing specialists to discuss what’s happening in our area and suggest the best price for you.

We also enclose a link to Business News Wales where we have been quoted as part of the RICS Residential Survey:
https://businessnewswales.com/sales-and-house-prices-continue-to-decline-across-the-residential-market-in-wales/?fbclid=IwAR1F426wfmqGgHQ1u53PMM8_Wah4x-0bPxnf0bN9ghkv5os3TO3jnFbBgl0