There’s no getting away from it, the property market has taken a bit of a tumble. With a nasty hike in interest rates and a dramatic rise in the cost of living, how could it not? Something had to happen to bring the meteoric rise in house prices back down to earth.
The continuing twists and turns of inflation and higher mortgage rates are posing real challenges for the market. However we continue to do business with motivated buyers - a surprising number of first timers - who can factor rate rises into their budgets enabling us to continue to sell - but only at the right price.
This message is hitting home with many existing sellers reducing their original asking prices and those new to the market setting realistic targets at the outset. It must obviously work both ways, would-be buyers cannot be expected to sell at a lower price unless the seller of their proposed purchase has also ‘bitten the bullet’.
Although we’re sweltering away (ha!) in the middle of the summer holidays there’s still a decent amount of activity in the office with sales falling into place and fresh instructions arriving. School may be out but we’re not, so anyone wanting to take advantage of what remains a perfectly good time to sell, call us in for a free appraisal, we’ll tell you all you need to know to make it happen.