Leading local estate agency Connells has recorded significant improvements across the housing market in Bristol in the first quarter of 2012 compared to the same period last year. In the first three months of this year Connells’ six Bristol-based branches saw an almost 20 per cent increase in the number of properties coming onto the market and a 34 per cent increase in sales when compared to quarter one in 2011.
Testimony to the growing strength of the local housing market this year, Connells has also recorded a 36 per cent increase in the number of homes coming onto the market at the beginning of 2012 compared to the final quarter of last year. There has also been a 16 per cent increase in the number of mortgage applications in the branches ranging from first-time buyers, home movers and those looking to remortgage.
Ranjit Chohan, area partner for Connells said: “We recorded gradual improvements in Bristol’s housing market activity throughout 2011 buoyed by growing confidence and greater choice and availability of mortgage products
"This year, we’ve seen even more desire to take action from buyers and sellers alike. People who have put off their home move in recent years are now ready to take the plunge and stop speculating on the market.”
The end of the Stamp Duty holiday for first-time buyers purchasing a home worth up to £250,000 has played a key role in market activity over the first quarter of 2012. This has fuelled activity from existing home owners keen to capitalise on the influx of first-time buyers in the market at the start of the year.
“Whether it’s because of the flurry of first-time buyers or greater confidence in the market generally, our figures for the first quarter of this year show a positive trend and we expect this to continue over the next three months,” Mr Chohan said. “House prices remain stable and there is a significant appetite to move home, whether buyers are looking to get on the property ladder for the first time or sell up and move on.”
