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The latest regional property market reports have been released providing key trends in the national and local housing market. Whilst some headlines are just that – headlines to grab attention, bad news appears to sell, but what is actually happening?
Price Correction:
Property Price Growth is moderating and price correction is forecast at 7.2% in the year to October, annual price growth remains stronger than the 3.3% average between 2010 and 2019.
The Market In Context:
In context – inflation is expected to peak during the final quarter of 2022 before falling back over the course of 2023 and unemployment looks likely to remain lower than the 10-year average (5.3%)
Local estate agents & auctioneers Williams & Goodwin The Property People who also trade as All Wales Auction covering Anglesey & Gwynedd for many years, have also been selected as the best independent agents in Gwynedd & Anglesey by The Guild of Property Professionals.
Melfyn N Williams BSc(Hons) MRICS PPNAEA FNAVA CPEA, director at Williams & Goodwin commented:
“As an experienced agency we have worked through the ups and down of the housing market since the 1980s and have experienced the rapid growth times naturally followed by the more steady, normal property market activity. Following the Covid pandemic lockdowns we were unleashed into a frenzy which couldn’t carry on forever and the market is now turning, as expected, back to normal where peoples’ aspirations and expectations should still be attainable, albeit in perhaps a not so rushed timeframe”.
At Williams & Goodwin people can expect a forward-thinking, positive approach agency that provides solutions to your housing needs, we are here to help people move and help you achieve your goals. We trust that our experience and knowledge will ensure a smooth transition for our customers with our realistic appraisals to achieve the best results for our clients.
Melfyn concluded:
“As we move towards 2023 the property market is likely to be different to 2022, however people will still need a home, still need to move and still see over the longer term, a positive growth in house prices”.
The latest regional report for Wales is available in full at https://pageturner.guildproperty.co.uk/walesreportwinter2022#3.
For more information of selling or buying a property in Anglesey or Gwynedd please call our team on: 0845 087 11 11.
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Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.
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