2016 – One month in…. what are we seeing in the local market?

The biggest thing we’ve seen at the start of 2016 is the increased number of investors trying to get their money in to property prior to the April change in stamp duty (extra 3% for completions on 2nd properties from 1st April onwards).

This increased number of buyers is ensuring properties are selling for strong money and mostly with more than one offer coming in.  Southbourne has been particularly buoyant in a carry on from the success of last year.

We’ve seen a dramatic increase in the number of properties coming to market when compared with the last quarter of last year, but I doubt it’s really feeling that way for buyers as everything is being snapped up quickly.

Looking forward I think we’re in for more of the same.  The stamp duty changes may well slow things down a touch, but Southbourne prices are at a level that investors aren’t finding terribly attractive so I’m not convinced it’s going to impact the local market too much.

It’s absolutely brilliant to see how popular Southbourne is becoming, but at the same time it’s sad to see so many local people being priced out of the area.