NEWS FLASH - House Prices Rise

A bold statement I hear you heckle! Well yes, bearing in mind they have dropped every month for over a year and all the economic news in January has been gloom and doom, it may appear a quite ridiculous claim. However, far from wishing to line myself up for a fall, the confidence to make such a suggestion comes from what we at Imagine have witnessed on the ground throughout January.

Firstly our new enquiry levels on sales are up by over 300%. Yes 300%. That's a staggering increase in activity and quite definitely demonstrates that there are a substantial number more people considering buying now than there were at any point in the last six months.

Secondly the number of sales we have agreed is up 200% on December. Admittedly December is always a quiet month but then last year so were most months.

Thirdly, although we have still received a fair number of very low offers the number of offers we have had within 5% of an asking price is well above recent experiences.

All of that tells me there is a demand at the current supply level and that means there is no reason for prices to have fallen further. That only happens when supply outstrips demand.

Not that many buyers I've explained this to believe me, and you can hardly blame them when all the news is about recession and redundancies. I'm convinced though. I'm not suggesting we’re on the home run yet, I am saying things aren't as bad as you could be led to believe.

Anyway the proof will be in the releasing of the Halifax /Nationwide price figures mid February and expect me to gloat mercilessly if I'm right. Alternatively it could just be Imagine are flying and all our competitors are struggling, which I could live with too.