January has seen a resurgence in the housing market after the traditionally quiet month of December.

Our offices January performance is favourable compared to January 2007, in terms of the numbers of valuations, instructions, sales agreed as well as buyer registrations and viewings.

Buyers seem to have accepted that interest rates have peaked and will most likely reduce over the coming months and at the same time vendors are accepting that the market has calmed down.  Provided houses are realistically priced we are achieving good sales figures.

The national media seems to be obsessed with comparing the current market with the housing crash of the 1990s but there are major economic differences, in particular interest rates then topped 15 per cent whereas now they have peaked at c 5.5 per cent and there is much more job security now so it is wrong to make direct comparisons.

We acknowledge that in some parts of the country the housing market is struggling, particularly in big city centres where there is an over supply.

However in this area there is an under supply and we believe the market will continue to perform well although we will not see the strong price rises we have experienced over the last few years.

Should you require a without obligation valuation of your property then please contact your relevant local Aitchisons office.