| Topic: | Re:Re:Re:Re:Re:Property sales | |
| Posted by: | Ian Newbury | |
| Date/Time: | 14/04/08 17:28:00 |
| Hi, I obviously have no guarantee to give that it is temporary, but i have seen this situation before and it is always around holiday times and changes in mortgage rates etc. And with the tightening on mortgages plus an early easter this yr all can make a difference to peoples financial situation and commitments. There is it seems a slowdown within the 'average' house price area, flats seem to be remaining quite boyant, And million pound plus property remains relatively unchanged too, its the middle range where it is slower, This is partly due to what i have already stated plus the lack of good quality housing coming onto the market at the moment, so lack of sales partly due to lack of new houses coming to market right now. Chiswick does tend to fair well with house prices as a deirable place to live, but we too will have our 'slower' periods even as a resonably stable area price wise, as with anything a property is only worth what anyone is willing to pay for it! But i still know of numerous properties in the area which have been going to sealed bids and going for over asking price sums recently and i am privvy to information of property that doesnt even come onto the open market and reaching very healthy offers which leads me to believe that prices are at a correct level , although obviously there are exceptions to every rule, but believe most agents will give an honest valuation, but it is important to get it valued at an honest market value to begin with rather than goto market and have to reduce. But i think the confidence is still there, i just think there is more caution and people taking more time before taking the next step up in the average house price section, bearing in mind that that is quite a major step up to some as the avergae house price is £635,000, but can go up to over £900,000 for a terrcaced property in the area. So buyers want to see alot more what they can get for their money before buying and that comes back to the problem of the lack of new proerty coming to market right now, and also people holding off with the recent changes with mortgages and interest rates hoping that prices would also come down and buy them more for their money. |