IT’S been a lively year for Wellington estate agents and the property market – and 2016 looks like being no different.

Agents in the town say they have had a good year and are optimistic going into the New Year.

Nick Girone-Maddocks, branch manager at Gibbins Richards in Wellington, said: “The 2015 market has been interesting. Growth and confidence in the economy has returned after the cautious post-recession years. In addition, mortgages have improved and many buyers been surprised at their ability to move onwards and upwards. But the banks are still wary – it is not so much about affordability this time around, more about lifestyle and spending trends.

“With all this buoyancy, 2015 was generally a very good year. However, agents throughout the region have experienced lower than usual numbers of property coming onto the market in the last quarter and as a consequence have fewer houses to sell.

“Nevertheless, sales numbers are excellent and those wishing to sell should expect good interest as the 2016 starts. Now would be a sensible time to sell any investment properties – second home stamp duty changes in the spring adding 3% to each investment property that is bought. The 2016 market will be driven by new instructions – if they’re not on the market, they can’t be sold.”

Symon Jeffrey, partner at Wilkie May & Tuckwood in Wellington, said: “This year has been a good year with an optimistic and a confident outlook for 2016. After a slow start to 2015 the market caught up with a fantastic third and fourth quarter, with 22 sales having been agreed from the Wellington office for the month of November alone.

“While demand outstripped supply nationally, there still is plenty to choose from locally, with new instructions having actually increased for the Wellington office with a host of buyers in good positions. We are looking forward to January 2016 with a stock of properties ready to enter the market and an excellent database of buyers.”

Emily Gibbons, of Stags in Wellington, said: “This year has been an exceptional year for sales, with exchanges up 61% compared to 2014. As for the market in the New Year, we are optimistic that conditions will remain stable and that the improvement in the market will continue.

“It now looks as if interest rates will rise early in the year but, with any increase likely to be modest, hopefully it won’t have too much of a destabilising effect. There is also likely to be a spike in demand early in the year as would-be second home buyers try to beat the recently-announced ‘targeted rise’ in Stamp Duty which comes into effect at the start of the new financial year.”