{"id":6028811,"date":"2020-01-24T09:15:15","date_gmt":"2020-01-24T09:15:15","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6028811"},"modified":"2020-01-24T09:15:15","modified_gmt":"2020-01-24T09:15:15","slug":"is-the-boris-bounce-here-to-stay-for-the-uk-property-market","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2020\/01\/24\/is-the-boris-bounce-here-to-stay-for-the-uk-property-market\/","title":{"rendered":"Is the ‘Boris bounce’ here to stay for the UK property market?"},"content":{"rendered":"

New research has revealed that we’re in the midst of a three-year high in confidence levels for the country’s housing sector.<\/strong><\/p>\n

While 2019 saw a levelling off of property transactions and house prices as many adopted a wait and see approach through the political uncertainty, things have certainly turned around as we move forwards into 2020.<\/p>\n

In a survey commissioned by property portal Zoopla, which collected responses from 650 agents and 6,000 people, there was a clear indication that property confidence was on the up, and in fact was higher than it has been for the past three years.<\/p>\n

Confidence in the north<\/h4>\n

The north of England<\/a> seems to be generating the greatest mood for optimism among agents with 57% stating that 2020 has begun in the most confident way for several years. Meanwhile, 55% of agents based in the south commented that they were feeling \u2018very confident\u2019 or \u2018somewhat confident\u2019 about how the market would perform during the year ahead.<\/p>\n

From agents surveyed, 52% anticipate that over the next year and a half the amount of available properties is set to rise, amounting to a net increase of 20% since 2017. Almost half (45%) of agents also expect the rate of property transactions<\/a> to increase during 2020.<\/p>\n

Zoopla\u2019s chief commercial officer, Andy Marshall,<\/em> said: \u201cIt comes as little surprise that the so-called \u2018Boris Bounce\u2019 has already started to reshape the market in the immediate term \u2013 particularly amidst reports of improving consumer confidence following the decisive election outcome<\/a>.”<\/p><\/blockquote>\n

Broader business services<\/h4>\n

The survey highlighted that agents recognise an ongoing necessity to broaden their business model, such as joining forces with third parties to offer clients financial and legal services: 43% of agents believe that there is scope to increase earnings by recommending mortgage lenders or brokers<\/a> and 42% by recommending legal services.<\/p>\n

During 2020, 54% of agents anticipate a jump in property management fees will generate more revenue, 50% from property sales and 45% from lettings fees.<\/p>\n

Andy Marshall commented: \u201cThe annual State of the Property Nation findings always make for a compelling insight into all facets of the market. In the first of our series of takeaways, the study provides a barometer of agent mindset, and our findings show, on the whole, that agent confidence in the market is on the up for 2020.\u201d<\/p><\/blockquote>\n

\u201cWithout doubt, appetite to buy and sell property has been pent up since the aftermath of the Brexit<\/a> vote in 2016, and it would now appear that we have the green shoots of a new cycle in the market. While we don\u2019t expect runaway prices \u2013 indeed we have forecast a modest 3% growth for 2020 – we are definitely heading in the right direction and agents are rightly benefiting from what we hope will become a new dawn.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

New research has revealed that we’re in the midst of a three-year high in confidence levels for the country’s housing sector. While 2019 saw a levelling off of property transactions and house prices as many adopted a wait and see approach through the political uncertainty, things have certainly turned around as we move forwards into… Read more »<\/a><\/p>\n","protected":false},"author":217,"featured_media":12966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[59,6],"tags":[416,105],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6028811"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/217"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=6028811"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6028811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/12966"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=6028811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=6028811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=6028811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}