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Schools out for Summer

Schools out for Summer - but we're not! 

It's that time of year again. The school gates are all set to shut and the M5 will become gridlocked as families clear off for their eagerly awaited summer holiday and the property market goes into hibernation for a couple of months. Or does it? 

Does it heckerslike! When you stop and think about it, a typical family holiday lasts for a week, two at the most, which leaves plenty of time to plan and prepare for a house move. With favourable weather and long, light days, the timing should be ideal but there's one big problem - when it comes to finding that next home, there's so little to choose from.

Year on year, the shortage has increased, there's reportedly half the amount of property on the market this year than there was 5 years ago. The reason why, at least the main reason why, is down to political uncertainty coupled with affordability. It's the shortage of property for sale that's mainly responsible for the price hikes. When supply is low and demand is high, prices are forced up. Thereby lies the problem but with mortgage rates still very low and the 'Help to Buy' scheme still available to many, the affordability problem can be overcome.

So, despite the fact we have less to choose from on our books than we would like, we're pretty sure there will a good many potential buyers on the lookout for a new abode during the summer holidays which is why it will be business as usual in Magdalene Lane throughout July and August.

We are also of course addressing our shortage of stock. If you, or anyone you know is thinking of selling this summer, please - Call us First! A warm welcome awaits, as do many eager buyers!

By Chris Willey

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