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Property is still selling and vendors are already planning for 2015. Rental demand has stayed strong into October, but as traditional for the year, is now tailing off as we head into Christmas.

With the summer rush now over, the supply of property coming to market is dwindling giving potential buyers an even smaller pool to view. This can be a positive or a negative, depending where you’re sat. If you’re a vendor, the positives are that there is less competition in the market so you may be able to command a premium, but you need to bear in mind that there are less people actively looking to purchase, so your proposition needs to be strong. For purchasers, the quieter months of the year can be a great time of year to bag a bargain, so there are positives from both sides of the fence.

After a strong 2014 for home sales, we’re anticipating a good start to 2015 in Nottingham and we already have vendors primed and ready to market during January. It is widely predicted that pension reforms announced in this years budget will result in money flooding into the market in 2015 with pensioners choosing Buy-to-Let investments for their pension pot rather than the annuities that they have previously had to take out. A poll recently taken by Hargreaves Lansdown has also shown that 8% of retirees are planning to use their funds to help their children get on the property ladder.

In property rental, the traditional summer peak has stayed strong through into October, with rental prices holding fairly steady, if not rising as they have in the south-east. As is normal for the time of year however, demand is now starting to tail off as we head into winter. This year, there has been a significant shake-up in student housing with more and more purpose built student villages popping up across the city. The knock on effect is seeing housing falling empty in peripheral areas and generally supply in student accommodation is outstripping demand. The good news for some however is that as the market appears to be shifting away from student property, there has been renewed interest in leasehold flats.

Over the past few years, purchaser interest has been at its best early in the New Year, so for anybody thinking of selling we’d recommend getting a valuation as soon as is possible so they are ready to come to market.