Autumn 2011

Our local market remains consistently inconsistent, which is not really surprising given the background of steadily unravelling economic woe in Europe. Nobody can really foresee what the outcome will mean for us this side of the Channel, but it clearly isn’t going to be all good news.

For a while now sellers have been over pitching asking prices and, whilst the best properties are selling well in some instances, this isn’t reflected across the market as a whole. Indeed many properties which have failed to attract acceptable offers have been withdrawn, in anticipation of better times ahead. The type of properties we mainly deal with are not often still subject to much mortgage exposure, if any, and therefore the owners can often afford to wait. This reduces supply, which in turn underpins values, even if market turnover is slow.

It’s a frustrating market for a buyer, because even though there should be some great bargains to be had, choice is restricted and, of this, there is little which appears to offer real value. Therefore, it is currently all the more important to aim for quality in terms of specification and location even if this stretches the budget.

There will be fresh choice to look forward to in the New Year as owners review their plans, even though we don’t expect the underlying market characteristics to change much for a while. One question we are sure will be asked repeatedly is “….would they sell it now, do you think?” and perhaps we can ask on your behalf….