If you follow the mainstream press you’d be forgiven for thinking it’s all doom and gloom. But here at The Property Hive we take a much more positive approach – and in our opinion the Doncaster property market is in quite good shape.
Here’s our summary of the current state of the housing market in Doncaster and a look ahead to what we can expect in 2019 as we approach the peak home buying and selling season.
Brexit
Apologies for mentioning the “B” word!
But there’s no doubt that Brexit has had an impact on the housing marketing in the last 12 months. When things are uncertain, people tend to postpone large purchases and decide to stay put for a while.
This has resulted in fewer properties being supplied to the market, but demand is high and so buyers are competing for fewer properties. This is helping owners achieve better prices in shorter time frames.
However, we are seeing signs that owners are starting to take action as they realise that they can’t wait forever and little is likely to change or happen in the short term.
First Time Buyers
Doncaster is following the national upward trend when it comes to first time buyers. There was another increase in 2018 although it was smaller than in 2017.
These days first time buyers are looking for homes they can stay in for some time – terraced and semi detached houses are the most popular choices.
Doncaster House Prices
Despite the dire predictions of a crash from certain quarters, house prices in Doncaster have continued to rise, albeit slowly.
Our feeling is that this is good news for most. A slow, steady increase is much better for the average homeowner than wild fluctuations.
The one area where prices are stagnating is flats and maisonettes, partly due to the changes in tax rules which has made buy-to-let a less attractive option.
Outlook for 2019
We’re not anticipating big changes in 2019 (barring a Brexit disaster, in which case all bets are off……).
Demand for quality properties will remain high from both first time buyers and movers. While supply will be fairly stagnant as new house building continues to lag behind.
This demand will ensure prices are maintained overall, but affordability criteria for mortgages will prevent them growing significantly.
Want to move in 2019?
If you’re looking to move in 2019 then it’s important to be prepared.
The first step is always a conundrum (see our article should I wait to find a property I really want before listing my home for sale?).
In our experience, when demand outstrips supply, those who are in a position to move fast (current property sold stc, finance ready to go) will have the edge over those who have yet to put their own home on the market.
Why not give us a buzz on 01302 247754? We have extensive knowledge of the Doncaster property market and can help you find the perfect new home – and get you the best price for your existing property.
