I hope everyone has had a wonderful summer and relaxing break. Here at Wilson Hill we are now all back from our summer holidays. The Hills had a great time in Cornwall enjoying some wonderful English summer sunshine, the Wilsons were less fortunate with the weather in The Alps where it actually snowed in July!
But a fortnight without email or mobile phones and we are all feeling refreshed and ready for action!
As Spud and Daisy didn’t come away on holiday with us we thought we would give them a well-deserved rest and take over writing the blog for a little while, after all they have such busy lives and we wouldn’t want to overwork them!
So rather than the dogs usual drivel about cheese and wisteria (amongst other topics), we have asked William for a more informative view of how the housing market is performing and here are his thoughts.
‘The market started the year showing distinct signs of shaking off the recession, with a significant increase of enquiries from buyers locally, regionally and from London. There is currently greater demand than supply, however the market is still price sensitive and the best results are being achieved when properties are realistically guided against known sales and then the natural market forces are used to generate wide interest. Our early launches this year went well, with a number resulting in multiple bidding and strong prices being achieved.
There was increased talk of a housing bubble in April and May, particularly as the new mortgage rules came in the market tightened somewhat. Whilst this hasn’t led to the market showing signs of falling, certainly there has been a levelling off, with a number of vendors having to reconsider their pricing strategies if they wish to sell. In essence we have returned to a more price sensitive market and feel this is unlikely to now change prior to the General Election in May 2015.
There have been recent signs of some buyer confidence returning, with mortgage approvals on the rise again and the IMF telling The Bank of England to keep interest rates low for now. Whenever there are changes in the market such as the recent tightening in the mortgage market, buyers often become very cautious and then once they realise that life has to go on they start transacting again and we believe we are seeing clear signs of this. There are still plenty of people looking for houses in the area, so the key is to grab their interest and attention and take the matter from there.’
Wilson Hill have shaken off the long lazy days of summer when the pace of life slows and are back to work with a new spring in their step and ready for a busy autumn market.
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