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&homes Northumberland & County Durham

Q1 2012

Our new residential magazine looks at what's happening in your area: ‘Our advice is to shop early – and in person.'

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Our new residential magazine looks at what's happening in your area: ‘Our advice is to shop early – and in person.'

Market confidence in the north has been knocked recently by increasing unemployment. However, there is a bigger picture to be seen and sales are still happening.

November proved the busiest time, with all the fresh houses that came on to the market going under offer. These properties were across a range of values and the whole area we cover, proving that buyers are less influenced by the traditional seasonal approach to house-buying.

Modern technology enables buyers to do most of their research before they even leave home - whatever the time of year. Buyers who simply surf websites are likely to feel frustrated about a lack of fresh stock, however. It is generally our aim to bring houses to the open market, but recently there have been a few private sales to cash buyers registered with us. Our message for buyers in 2012 therefore is to shop early - and in person.

The lack of fresh properties is likely to remain a symptom of the market in Northumberland for the year ahead - but so will demand for the best sensibly priced houses. Properties in the zone commutable to Newcastle and Durham, and those near to Alnmouth train station, will always be popular. The same goes for the Tyne Valley and houses close to Mowden Hall School. In many respects, the scarcity of quality houses coming to the market in any quantity is going to be one of the positives for vendors in our region.

Prices are predicted to fall by as much as 8% across the region, but interest rates are likely to remain low - and this, together with the government's plans to help first-time buyers, should help to get the property market moving again. As ever, the best way to encourage serious buyers is to set a realistic guide price.

Read the full magazine: &homes - Northumberland & County Durham