Put the party poppers away. The Burton property market is kaput…

OK, I know it’s party season and all that but, as far as the local property market is concerned, you can put the streamers and silly hats away, the party that is ‘The Burton Property Boom’ is over! The balloon has burst. It is kaput.

During the last 3 months, property values have only risen by 0.1%. So surely this is doom and gloom time isn’t it?

Well, no actually because the Burton housing marketing is entering a new phase. It has been through the 2001 to 2007 boom, a bust in 2008 and 2009 and a recovery cycle since 2012, and as we head into 2015, a year that will see the formation of a new Government, we are now entering a more stable, yet still challenging era.

As I said to a landlord from Repton, who has recently changed agents to us, in the Midlands, (especially the big towns and cities like Nottingham, Derby, Loughborough and our own Burton) we are all facing a housing crisis, because in the Midlands – with its high employment rates, excellent quality of life, and rapidly growing strengths in a range of sectors, it is becoming a victim of its own success.

People want to live here but nobody wants to build on greenbelt. With planners not willing to give planning permissions for thousands of new properties that are required for our ever growing Burton population, accommodation in the town is in ever greater demand whilst supply remains worryingly slow to come through.

Just because property prices have levelled off in Burton, doesn’t mean the housing market is ready to jump off a cliff. I actually see this as a good thing, in fact, for the savvy landlord, a blessing in disguise. If you think the housing market is done and dusted for 2014, think again. This is the perfect time to snap up a bargain.

Despite recent mild weather, chill winds are hitting parts of the market now. This means every seller has three strong reasons to get their business done this side of Christmas. You see, as a landlord with cash in your pocket, ready to buy the next buy to let investment, you can get a bit of a bargain at the moment. We have seen it in Burton as a seller’s market for 12 months, but as the pressure mounts for property sellers to sell, the market has tipped.

Another reason sellers want to do a deal as soon as possible is the uncertainty surrounding the general election in the coming Spring. In the past, the prospect of an election means buyers hold back until they know how their income and tax might be affected. But for the brave landlord, it’s a chance to look at properties with fewer rival landlord purchasers waiting in the wings.

As we approach the end of 2014 - which, personally, has been a great year for me and for Professional Properties - I would like to say thank you to all the landlords and tenants who have popped into the office or have rang and emailed me their queries and questions regarding the residential rental market. I hope I have given you some valuable information to help make more informed decisions.

I don’t bite, I don’t do hard sell, I will just give you my honest and straight talking opinion. Email me if you want a chat and i can call you back or call me on 07973 666229!

In the meantime may I take this opportunity to wish you all a very Merry Christmas and a  prosperous 2015.