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The highly popular Kings Drive development is drawing to a close! We only have a handful of properties left! All four and three bedrooms properties are now sold. We have three, two bedroom semi detached houses with garages at £185,000 left. We also have two 80% ownership two bedroom terrace houses at £135,000 & £140,000. Get in quick to avoid disappointment!

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Stamp duty receipts dropped by 8.5% in 2018 compared to the previous year. The take was still over £8billion but down £802million on the year before. There was also a large drop seen in receipts from the 3% additional homes surcharge. Some of the drop has been put down to a sluggish London housing market. Clearly with far higher house prices the capital also has far higher stamp duty receipts. However much may be deliberate and by the governments own making. The extra relief for first time buyers coupled with a rise in people buying there first home last year has without doubt had an effect.

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The National Association of Estate Agents have recorded increasing levels of buyers and sellers entering the market. The supply of property for sale has risen by a fifth according to their latest figures with the number of buyers looking up around 7%. We feel this demonstrates that the early year bounce in the housing market appears to be happening. Indeed our own figures have revealed a rise in sales of 20% across the group so far in January with two trading days to go. However, the housing market, in our opinion, is more balanced with more properties for sale. Keen and correct pricing is essential to attract buyers and offers.

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HMRC has reported there were 1.19 million residential sale transactions in 2018. Slightly down on the 1.22 million recorded in 2017. Although this is a small drop it is encouraging that house purchases have stayed quite stable for a few years now. At Aldreds our year runs July to June. We have seen a 15% increase in sales over the last six months of 2018. This is in no small part a huge reflection on our dedicated staff who have really pulled out the stops through the autumn and winter to get their clients moved. However, it also shows that the housing market in East Norfolk and North East Suffolk continues to be strong.

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Don’t forget our next auction is on 31st January. 12noon sharp. At Great Yarmouth Racecourse. Look forward to seeing you all there!
  1. House Price Update.
  2. Happy New Year!
  3. Aldreds Christmas Opening Hours.
  4. Aldreds Going from Strength to Strength