A big improvement in the number of sales has not been matched by a rise in prices, says Neil Foster.

1. How has the Tynedale housing market performed in 2016?

We have seen a marked improvement on the previous year in terms of transaction levels but very little in the way of price inflation. Vendors have largely accepted that the residential property market is at a seemingly stable price point but it is still difficult for buyers given the limited supply of property for sale. There has been a buoyancy in the Tynedale property market which appears to be lacking in other parts of the region and certainly in many parts of the country.

2. What will be the challenges for 2017?

The biggest challenge to the property market in Tynedale next year is likely to relate to uncertainty over Brexit. We were one of the minority areas to see a positive shift in transactions after the referendum but if the Government fails to trigger Article 50 by March, we risk a loss of confidence. That can have a very negative effect on market sentiment, with both vendors and buyers adopting a wait-and-see approach. Other than that we have seen consistent improvement in the market since 2012 and see no reason to expect that 2017 will not add to that series of improvements.

3. What has been your stand-out event of the year? Agreeing the sale of all five new-build homes at Orchard Gap in Hexham on behalf of Anvil Homes. The sale of these exceptionally high-quality detached houses has set a significant new benchmark for new home values in Hexham and that should encourage other landowners to explore the possibility of bringing similar sites, with development potential, forward for planning in 2017.

4. Christmas in a new home is lovely but for people who haven't managed to sell, what's your advice?

Look honestly at your pricing and market exposure. The market is working well with decent activity levels and improving transaction volumes so you should be seeing interest from buyers. Estate agency, like many service industries, is a competitive business but that doesn’t excuse low fee gimmicks and over-pricing to win instructions from home owners who are often then left with low service levels and disillusioned over price. Test the advice you have received and expect to see evidence of results from the agreed sale of properties similar to your own before tying in to an agency agreement or service which is not necessarily proving you with access to the ‘right’ buyers.

5. This time next year, what will have changed in the industry?

Dawning realisation that while internet exposure is a very effective and useful tool for marketing your home, it is rarely enough to insure you achieve the best outcome in terms of price and service. Increasingly there is a place for low-cost online-only agency, particularly at the lower end of the market in urban areas, but this is not a one-size-fits-all solution for the sale of more valuable and individual homes.