House prices increased by an average 33.7% in the last decade and despite being relatively flat over the last couple of years, due to the uncertainties surrounding Brexit, are set to rise by a further 15.3%, according to latest predictions, in the next 5 years. However, there are likely to be significant regional differences with properties in the North of England expected to see the strongest price growth of 24% between 2020 and 2024. Central London properties are also set for a rebound with predictions of 20% growth and only 5% growth in Greater London.

According to Rightmove, the property market will increase by 2% in 2020. But that a lack of supply, with demand remaining high, could push prices higher. Added to which, low interest rates, lenders competing to lend, high unemployment and a continued growth in wages, helps buyer affordability.

So, if you are planning on buying  or renting a property in 2020, how will this impact you?

1. House prices are forecast to grow by 2% in 2020, but stocks are expected to remain low. So, if you are thinking of buying, now is the time to get your property on the market, so that you're ready to move when the right property comes along. If you're renting, the number of letting properties are likely to remain low, which could prompt an increase in prices.
2. First-time buyers. Schemes such as The Lifetime ISA, will help people raise the deposit required to buy a property. Which typically can be up to 20%. The good news is that interest rates are expected to remain low, which will make mortgages more affordable.
3. Brexit. After the UK leaves the European Union on January the 31st, there will be some uncertainty surrounding the housing market. Currently confidence levels are high, so the 'Boris effect' may help property prices remain buoyant. A weak pound however, could encourage more overseas investors entering the market as this makes UK property relatively inexpensive.

Think you need to avoid selling your property over Christmas? Think again. Potential buyers have more time over Christmas and, according to Rightmove, the Christmas period and particularly Boxing Day, is one of the busiest of the year, with people searching for a new home.

So, what do you need to do to maximise a potential sale over Christmas?

1. Make sure your property is visible online and listed with all the major property portals.
2. Winter viewings. There's something quite special about a property dressed with Christmas decorations. Stepping into a warm house, with the light of a fire and twinkling lights can show off a property at its best. Helping prospective buyers visualise living there.
3. Serious buyers. People house hunting over Christmas are more likely to want to complete early in the New Year. You'll get a greater proportion of motivated buyers, looking to agree a sale.
4. Plan ahead. Don't leave putting your property on the market too close to Christmas. Whilst your home will look attractive  with Christmas decorations, you want to ensure the photos of your property are taken before the decorations are put up.
5. Ready for the New Year. Once Christmas is out of the way, there is a traditional New Year rush, as families make the decision to move over the Christmas period. Getting your property listed before Christmas ensure you are ready to make the best of this busy time of year.

If you need advice about selling over Christmas, contact us today.