Wakefield property sales are on the rise with renewed confidence at the start of 2024
While new predictions suggest that the Bank of England may start cutting interest rates in Q2 as inflation eases, Wakefield’s Richard Kendall Estate Agent is seeing signs of renewed optimism in the market since the beginning of the new year.
Partner Claire Kendall, whose family has been selling houses in the Wakefield area for over 55 years, said: “We have never made so many appointments for people looking at mortgages as we have in the last three weeks.”
She added: “People have been waiting to put their homes on the market and we have started to see an influx of properties coming to market, with renewed confidence fuelled by mortgage rate predictions.”
Those predictions are giving parents more of an incentive to downsize from larger homes to help their children get on the first rung of the property ladder.
Buy-to-let market rates are also reviving, with some deals offering as low as 4% and a need derived by a shortage of available properties for tenants to choose from.
Claire, who runs Richard Kendall Estate Agent with her fellow partner and brother Simon, explains: “There is quite positive news out there and we have come into a busier marketplace in January. Buyers are serious but also vendors are also being realistic with their house prices. There is a lot of confidence, with people accepting less for their properties in order to move on with their plans.”
Agreed sales up by up to 147% and 23% rise in viewings
By the end of their financial year Q1 in December, Richard Kendall Estate Agent had sold 20% more properties gross, and 25% more NET than the same period in the previous year. Ossett branch agreed sales were up by a staggering 147% NET.
There is also a huge rise in activity on viewings which are up by 23% on this time last year, which will no doubt be converted into offer and inevitably sales for their clients. This again displays the growing confidence in the Wakefield residential market.
The combined local property knowledge at family-run Richard Kendall Estate Agent is shared with their clients across Wakefield, Normanton, Pontefract, Castleford, Horbury and Ossett. With branches scattered across these areas, makes them easily accessible to tap into their expertise.
The independent firm, which was founded by their father Richard, offers a full range of services from trusted valuations and professional mortgage advice, from SMH Finance LLP, to conveyancing, sales and rentals to help your move run smoothly.
Arrange a free valuation
Find out how they can help you by dropping in to your local Richard Kendall Estate Agent branch at:
66 Northgate, Wakefield WF1 3AP
4 Cluntergate, Horbury WF4 5AG
Unit 2, Wellgate, Ossett WF5 8NS
10 High Street, Normanton WF6 2AB
To arrange a free valuation visit www.richardkendall.co.uk
Or call 01924 291294 or email [email protected] for more information.