In a recent video discussing the housing market, Perry Power M.D Power Bespoke delved into the current state of affairs in Rygate, Surrey, and the broader South East region, highlighting a surge in sales agreed in January compared to the previous year. This increase, seen as a positive sign, reflects a growing demand for properties in the area, likely driven by factors such as people relocating from central London and pent-up demand from those who have been waiting to move due to various reasons.
However, Perry also touched upon potential challenges, such as an increase in mortgage rates and the large percentage of households still on low mortgage rates. These factors could potentially lead to an increase in supply as more people look to sell their homes, which could impact prices in the future.
Despite these challenges, Perry remains cautiously optimistic about the market, citing predictions from Knight Frank and Savills of a 20% increase in prices over the next five years. This optimism is supported by data from the Rightmove Activity Gauge, which shows a consistent increase in buyer activity, indicating a healthy market.
Looking ahead, Perry emphasized the importance of monitoring factors such as interest rates and buyer activity to gauge the future direction of the market. They also encouraged viewers to stay informed and engaged with the market to make informed decisions about buying or selling property.
Overall, the housing market in Rygate and the South East appears to be experiencing a period of growth, but potential challenges remain on the horizon. Keeping a close eye on market trends and staying informed will be crucial for anyone looking to navigate the market in the coming months.
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