So, as the Christmas decorations have been packed away in the loft for another year, and the New Year hangovers are clearing, our thoughts turn to what the Sheffield property market will hold in 2015.
Here at Belvoir! Sheffield we have seen strong demand for both sales and rentals throughout 2014 and we expect the same to continue as we move into 2015.
For the demand of both property sales and property rentals to be strong at the same time is quite unusual and illustrates the buoyancy of the Sheffield property market at this time, strong demand from all sectors.
Obviously, after several years post recession of low interest rates there is a great deal of talk about interest rates and when there will be in an interest rate rise. Due to a number of factors relating to the wider economy at the moment our personal view is that we don’t think there will be an interest rate rise in 2015, with mortgage rates remaining low.
However, even if there was an interest rate rise later in 2015 we would expect it will only be a small one, and the mortgage rate will still be low, meaning the cost of borrowing money to buy a home remainS low.
In real terms historically this is cheap money which we feel will help to maintain the property market as a whole, with house hunters and investors wanting to get involved and maximize the opportunity that this creates.
Property investment wise, the demand for both BTL houses and flats is strong with enquiry levels from both experienced property investors seeking to enter or expand their property portfolio in Sheffield as well as first time investors remaining strong.
So, we predict a strong Sheffield property market in 2015 for both property sales and rentals, with lots of activity and opportunities for both sellers, buyers, landlords, and tenants.
However, the elephant in the room is what impact will the General Election in May have upon the market? Well nobody really knows to be honest! Particularly as this years election appears to be one of the most unpredictable for a generation, however the likelihood is that the market will remain strong.
