| We are being asked on an almost daily basis, what we think will happen to the housing market in 2010. Buyers are itching to know whether this is, in fact, the best time to buy, sellers are worried that they are selling at the wrong time. This seems to have created a bit of a stand off. In a complete market reversal, demand is now far out stripping supply and first time buyers account for 22% of all purchasers, double that of this time last year. So it seems that the market has stabilised and buyers are back, so will house prices increase? This really is crystal ball sort of stuff and the economists can’t seem to agree. There is strong evidence that a slight increase over the last month or so is due to a shortage of property on the market which may or may not be the case in early 2010. In our opinion, more property will come to market in early 2010 and buyers will have more choice, stabilising house prices for the time being. We think it will be a long time before prices increase at the same rate that they did at the start of the Millennium. Most sellers realise that, when buying on, the market value of a prospective property is relative to the one they are selling, so in real terms they do not suffer a financial loss unless their property is in negative equity.
One thing is for sure though, at the moment, property is in high demand and we simply need more property to sell. We are registering a high quantity of buyers who are in good positions and ready to move, so now may well be the right time to sell.
As ever, the best way to gain the most amount of money for your property is high quality estate agency. We use the latest in estate agency technology and even some completely new ideas we have developed ourselves to present property to its full potential and we welcome the opportunity to demonstrate why we feel we offer ‘estate agency with a difference’.
|
|