Every year in December we reflect on the past year and provide an outlook for the property market in the year ahead, 2016. As expected, trading conditions for real estate have improved over the past 12 months.
Looking back we can say that the market bottomed out in 2013/2014. During this period transaction volume steadily increased but property prices remained weak for most of this period.
However by the end of 2014 we saw some price improvement which continued more broadly in 2015 making this the first time in 6 years that vendors started to benefit from the recovery too.