Estate agents are reporting a booming housing market in Wellington – with property being sold before it is built.

Nick Girone-Maddocks, branch manager at Gibbins Richards in the town, said the property market always takes time to warm up after the Christmas break – and Brexit and the election of Donald Trump as President in the US had made agents feel a little anxious at the start of the year.

But he added: “We needn’t have feared though as once again Wellington’s property market has proved in this month or so to be as vibrant as ever.

“At Gibbins Richards we have had a good run of great homes coming to the market and, due to effective valuing and marketing, most have found buyers fairly swiftly.

“There is also incredible activity at the new Heritage Mill development in Tonedale, where some very attractively-priced new homes are being snapped up – 10% of the development of 90 has been agreed already and that’s before they’re even built!”

Symon Jeffrey, partner at Wilkie May & Tuckwood, said: “We have been pleasantly surprised by the amount of activity since the New Year, with sales the highest they have been for the last five years across the first quarter so far – this is evident by the amount of ‘sold’ boards around the town.

“Only three or four weeks ago ‘The Times’ front page read Homes market slumps’ – that could not be further from the truth from what we are experiencing here in Wellington and across our offices across Somerset and Devon.

“First-time buyers and investors continue to purchase, which is stimulating the lower end of the market, having a knock-on effect up through the various price brackets, with the buyers taking advantage of the record low interest rates and various mortgage schemes currently available, tending to secure the low rates anywhere between three to five years.

“The Spring Budget has not thrown up any surprises for the housing market and anyone concerned about Brexit seems undeterred and wants to move house or buy a house for the first time. Buyers and sellers have realised that nothing is going to happen overnight and they are not prepared to put their lives on hold while Brexit plays out.

“The Wellington office alone arranged just over 300 viewings across our clients’ properties for the month of February, that’s over 11 viewings a day. The buyers vary in profile and include a good cross-section from Wellington and further afield. We just need more houses as we are selling them!’’

“With the buyers’ and sellers’ desire to move, we are very optimistic for 2017 and look forward to a good year.”

For the full story, see this week’s Wellington Weekly News.