As Temperatures Drop, The Property Market Is Hotting Up!

19/10/2012 by Lurot Brand

Wow what a difference a few weeks make! Last month’s sales list was possibly one of the thinnest on record – thankfully this month’s is much more robust. As we moved into September the drought was broken and the phones didn’t stop ringing. We have more than doubled the number of available instructions which should give buyers renewed optimism that they will be able to find the right house sooner rather than later. It’s certainly possible to move in before Christmas with the majority of these listings.

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Whilst the shortage of property has undoubtedly driven up asking prices across central London we are coming across some really motivated vendors. A couple of houses which came on to the market with us last month found asking price offers within the first 10 days of marketing (in some cases above asking too). This demonstrates that current prices must be fair for both parties.

Advertising suggests there are plenty of good “best buy” mortgage products available which are still offering great rates. Conversations with some clients and buyers suggest that mortgage finance is actually less easy to obtain than the lenders would like to be seen to be offering. Our advice is that if you are looking to borrow to purchase then be prepared and do as much research as possible, before you find the house of your dreams as competition is still very strong.

If you have a property to sell then please feel free to pop into any of our three offices for an informal chat and we will offer you our best advice gained from 41 years in business.

Written by Duncan Petrie | Sales Manager

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