Keep it local – agents on the High Street know their local markets
2019 has started with a good example of why it’s best to ask a local estate agent on the High Street exactly what’s going on in the housing market. Relying only on national house price indexes can be confusing, as we discovered in the first few days of January when:
- the Halifax bank reported house prices up 1.3% over the past year;
- but the Nationwide said prices rose only 0.5% over the same period;
- yet both were using similar information from which to draw their results
The reality is each index measures prices at different points in the market cycle. In any case, local factors mean prices vary even from street to street. So don’t rely on national averages – East of Exe and West of Exe provide unrivalled local coverage and we’ll tell you what’s really going on where you want to sell or buy.