Market Update

Market Update

March, 2019

You could have forgiven buyers for allowing their property search to slow down a little due to the uncertainty surrounding Brexit. During the back end of February and the first two weeks of March our activity and production has been much slower than in recent Months. We have also seen sellers reluctant to place their property for sale due to press scaremongering around what Brexit may do to property prices. Therefore buyers who are out there viewing and wanting to buy have had even less properties to select from. However this has changed dramatically during the last few days following recent events in the Brexit negotiations. Buyers and sellers seem to have taken the view to get on with their lives and property moves.

Indeed all of our properties listed are now experiencing much more in the way of activity and offers with many of them now having sales agreed on them. Buyers appear to be much more enthusiastic now and offering much quicker than previously. We are unfortunately still seeing a lot of properties reducing their price daily on Rightmove which may mean they were listed too high in the first place.

If you are currently on the market you should think long and hard before altering your price too quickly. If viewing activity doesn’t pick up then talk to your agent and get their views on why interest is low. You MUST AVOID  however entering into any contract with an agent who will be tying you into a lengthy contract. This is usually a sure sign they have little confidence in their future success and service levels and want to ensure you stay with them for as long as possible. Some contract can be as long as 6 MONTHS meaning you are completely stuck with them for far too long.

Please let us know if we can help with your future plans or just offer you advice on any potential future move.