Resilience in the market
Buyers more cautious
The property market is, in my opinion, holding up well despite being on the receiving end of some pretty hostile media coverage.
This was particularly true during the middle and towards the end of the holiday period. As most of the reporting related to old regurgitated stories plus speculation about the impending doom that is to be unleashed upon us it might be worth reflecting on one thing.
It actually got busier as the August rolled on and September has really kicked on.
Buyers recognise value when they see it and Vendors recognise the importance of realistic pricing – something they were slow to take on board in 2008.
This has resulted in a market where buyers and sellers are approaching their negotiations with a view to doing business based on their own rather than the media led view and perception of what’s going on in UK plc.
Of rather more relevance is the lack of available finance for first time buyers and size of deposit required. It is this that will determine how quickly the volume of property sales recovers.