RTE is reporting that the Hampton real estate market is set to go into overdrive this year with prices set to increase 10% by the end of the year.
The real estate agent said: “This year we’re expecting a new home price increase of about 10% from 2017.”
The prices have been boosted by new buyers, especially young families and families with children who are moving into their own homes.
“This will push prices up even further for some older homes and for many of the older homes in particular, which have seen a decline in the value of their mortgages.”
“With the recent sale of some properties in the city, this will cause some buyers to miss out on buying in the area.”
In addition, the real estate agents will be selling properties that they already own for a higher price than they would otherwise have.
“As such, they may have to take out a new loan and, depending on the value and how much they can afford, they will have to make the extra investment to buy more properties.”RTE’s figures come from an interview with a Hamptont real estate broker.
The agent said that there had been a rise in the number of new buyers since the end, with a total of 4,000 people looking at the Hampshire market this year.
He added: “It’s also going to affect the price of a property in the Hampland region.”
There’s an increasing number of people buying homes in the region, which is good for the region and good for Hamptoun.
“But I do worry about the impact on our local businesses.”
I do think there’s an opportunity to sell more homes, especially if you look at the property market overall.
“It’s a bit of a drag on our economy.”
He said that it would also be a drag for local businesses as they struggle to attract customers.
He said that the number one reason for property sales in the borough had been the high cost of living.
“You’ve got people who have been looking for something different, and it’s all too often that people go into the Hampton market thinking ‘I’m going to buy a home with the highest possible price, and I’ll be able to afford it’.”
And they don’t realise that they’re paying that price, which could be thousands of pounds a year.
“So I do think it’s a big problem for our business.”
And I do fear that if there’s another recession, the price will go up again.
“If we don’t have an economic recovery, I do expect the price to go back up.”
The real estate agency added that there would also have to be a significant fall in the amount of time it takes to sell a property.