The economy is well on it’s way to recovery, business confidence is up and more and more people are looking to sell their houses in 2014. So far it seems that this year is set to be a good one, which is why it’s a great time to go after the job you want. Here’s five reasons why 2014 is the year to grab that property job.
More homeowners are looking to sell
Although 2013’s property market saw an impressive turnaround, towards the end of the year the market became a bit dry. Buyers were outnumbering the amount of houses available, causing fierce competition and sparking house price increases. While this can be a good thing, a lack of sellers is never a good thing.
However, things are soon set to change, as research from Halifax has indicated that 51 per cent of homeowners think that this year will be a good time to sell their property. There’s always a chance that a significant increase in available houses could boost hiring prospects, as estate agents will need to take on extra staff to deal with the workload.
Help to Buy is still available
Interest in purchasing a property isn’t set to decline any time soon, at least not while Help to Buy is still available. At the moment, there’s no date set for ending the scheme, but people will be looking to take advantage of the offer while they still can. This means there will be plenty of buyers around looking to take part, which will help further fuel a house price increase.
Moreover, low mortgage rates are set to stick around for the time being too, despite unemployment levels declining faster than expected. Before they go up, buyers will be looking to either remortgage their current house or mortgage a brand new one and set those low rates in place before they rise again. It really is a good time to be in the property business.
Employment set to rise
Employment in general is set to rise, mostly because of rising business confidence, so more firms are looking to invest in new employees. Moreover, High Fliers Research recently revealed that graduate employment is set to rise by 8.7 per cent this year, so even those fresh out of university will see their prospects rise. Unemployment also continues to decrease and is currently at 7.4 per cent according to the Office for National Statistics.
Even wages have started to unfreeze, so 2014 could indeed be a great year to look for a new job.
Less pressure on the housing market
Despite the fact that average house prices are still a fair bit below their pre-recession peak, many experts have concerns that a housing bubble could occur if prices continue to rise. This would mean many buyers could be priced out of the market, which in turn would not be good for anyone working in property.
However, because construction is on the up and more people are thinking about putting their home on the market, the pressure on the housing market could be decreased. This would put less stress on a number of groups, including estate agents, as they won’t see a decrease in the number of customers as a result.
House prices will rise even further
It is almost certain that house prices will continue to rise this year. Savills expects house prices overall to increase by three to four per cent, which rises to five or six per cent with regards to houses situated within commuting distance of London. This is mostly down to increasing confidence, which is leading more people to invest in property. Although there is still some way to go, the economy is recovering further all the time, so this upwards trend in prices should continue for some time.
With a number of sectors and markets continuing to do well, 2014 is definitely the year to start afresh. For this reason, and the fact that the property market is performing so well, it’s a good idea to go for that property job and start to reap the rewards.