Sunderland's Housing Market Springs To Life
06 Oct 2011
Ashley O’Carroll, Managing Director at Peter Heron residential sales and lettings is noticing a significant increase in activity in Sunderland’s housing market in spite of the negative media reports surrounding an ailing global economy.
Ashley says, “Traditionally, the market always improves during the month of September; however both our City Centre and Fulwell Branches have experienced an incredible spike in sales activity which is continuing strongly into the month of October. The number of sales agreed on a weekly basis is up to the levels we were experiencing during the boom years of 2006 and 2007 prior to the credit crunch, with properties selling particularly well in Whitburn, Fulwell, Herrington, Tunstall, Ashbrooke and Roker whilst there also appears to be a higher level of demand from first time buyers entering into the market once again. In the first 3 days of this week alone; the City Centre branch agreed 10 new house sales and 9 new sales were also agreed in our Fulwell branch during the same period.
Demand in some suburbs of Sunderland is also outstripping supply; something we haven’t seen in the last 4 years and whilst I will always remain cautious during these uncertain times, I feel that now could possibly be a very good time for those speculative sellers to test the market!”