Now Tweeting - Nova News Editorial September 2016
There has certainly been a reduction in the number of viewings that the agents are conducting on established homes and the number of price reductions of houses in all price ranges seems to have increased on the property portals. This applies to the new build as well as the established homes.
There are a number of properties for sale around the area, which one would normally expect to have been snapped up very quickly which are still unsold and indeed asking prices of some of these have been lowered. This is a sure sign that there is a reduction in confidence. Properties for updating would be sold within a short time frame and improved for resale within a matter of months but the uncertainty of the medium term market conditions is resulting in this type of investment buyer being a little more wary.
The market in general is suffering from a lack of stock with an apparent reduction in the number of new instructions being received by agents. This would normally mean an increase in prices but with a similar shortage of potential purchasers there will be some stagnation of the market. This limited supply of property in itself is likely to prevent any fall in the value of our homes. The lack of buyers may give you a good opportunity to purchase the house of your dreams at a discounted price if a buyer is anxious to sell. If you are a seller who needs to move do not be put off, just make sure that you present your home in the best possible condition with a warm, homely feel. Most important of all be mindful of sensible pricing and you will be at an advantage to some of the other sellers in the market place.
If you are looking for independent selling advice or need assistance in looking for a new home get in touch with me. I am more than happy to help on any property related matter. Please get in touch by phone or email, in fact I have now entered the realms of social media and opened a twitter account. For a further point of contact my twitter handle is @Andyvalues1551.
Stay optimistic and positive.
Andrew Mason FNAEA
Call me on 07507 928008. You can also follow me on twitter @Andyvalues1551.