estate agents

An Ill Wind - bad news for sellers, but good news for

first-time buyers?

 

The Halifax recently announced that house prices had fallen for the sixth month in a row -

with £15,000 wiped off the value of an average British home.

 

New build prices have been hit harder than older properties, with developers either 

offering big discounts in prices or incentives like cash back or developer-paid stamp

duty.

 

Meanwhile mortgage brokers report that lenders are demanding more information on

property before a lending decision and surveyors are increasingly concluding that

properties are not worth the amount a buyer has agreed.

 

All this driven apparently by low buyer demand in the residential market, in turn 

driven by record successive interest rate rise.  Issues which, when fixed, will allow

residential property prices to continue their accustomed rise.

 

But, while this is clearly not great if you're trying to sell a property at the moment, it

means it's very much a buyer's market, provided you have the funds.

 

For the buyer, particularly a first-time buyer with no chain, deals are then to be

done.  But to do this, you need an accurate estimate of the property's real current

market value.  Thus armed, you can make a compelling offer and one which won't be

negated by a later surveyor's report.

 

Accurate local market knowledge is therefore at a premium in this market to

guarantee a smooth and trouble-free buying process.  Which also plays to the

strengths of repositories of this local knowledge like ourselves at 'Ascots'.

 

In summary then, as the old business cliche goes, every problem creates an

opportunity, the current housing market presents an opportunity for the first-time

buyer and we can help.

 

Let's talk.

 

 

 

 

 

zooplaprimelocation2tdsprsrla