The Chinese New Year officially started on Tuesday 5th February, welcoming in the Year of the Pig. The Chinese zodiac is a repeating cycle of 12 years and the Pig is the twelfth of all the zodiac animals.
Since 2007, the last Year of the Pig, the average price of a property in the UK has risen by 30.1%. This is the equivalent of over £53,000. The largest increase however, happened between 1995 and 2007, when average prices tripled.
Since 1971, price growth in the Year of the Pig has averaged 6.2%. HM Treasury latest consensus forecast for 2019 is for average prices to rise 2.2%.
In Chinese culture, pigs are a symbol of wealth, have a beautiful personality and are blessed with good fortune in life. They are also realistic. This last characteristic may well prove fitting for the housing market of 2019!
Use a trusted and realistic estate agent in 2019
Waterfords are confident that homeowners will successfully sell in 2019, but warn that overpricing your property will fail in a time when buyers are being cautious. With over two decades of property market knowledge, Waterfords have access to the most accurate pricing data, meaning your home is priced to sell.
Managing Director, Brendan Cox, comments;
“One thing that is definite is that this turbulent uncertainty will undeniably impact the property market. We predict that buyers will be much more cautious in the year ahead. However, with a lower number of properties coming to market overall, demand for housing will remain high. This means house prices are likely to remain steady and not fall significantly. Buyers are seeing unchanging house prices as an opportunity to move. ”
During a time of uncertainty, using an experienced estate agent with in-depth local and national property market knowledge is essential to sell your home successfully.
Would you like to find out exactly what is going on in your local property market? Find out with your very own local property market report by following the relevant link below:
Alternatively, find out exactly how much your home is worth by using our instant online valuation tool.