Summer 2011

With the continuing unease in the financial world, fear of recession and unemployment and tighter lending, there is understandably some nervousness in the property market.

As is always the case in this area there are more people looking to buy than properties available but more than ever those buyers are being slow to commit. There seem to be an increasing number of sales falling through this year as, for example, a mortgage agreed in principle is turned down or simply because the purchaser gets jittery about making the wrong decision.

Quality property priced competitively will sell in any market. This was proved recently when a country house near Marlborough was marketed at £2.75 million and sold for £7 million. This may seem madness but there are few such houses in the area and someone was obviously determined to secure it at any price.
Equally, if there is anything at all to put a buyer off at the moment, the property can languish. This is particularly the case if ambitiously priced. Vendors must make sure they have done all they can before marketing to show the house in it’s best light.

However, even in the slowest of markets people do still have to buy and sell houses. If you are selling, use a reputable agent who can demonstrate they know the market and can quantify their valuation. If you are buying, do your homework and don’t be rushed.

…..alternatively, you could employ a buying agent!