Market 2011
It has been an interesting start to the Year. The London market has opened well, with activity from both buyers and sellers.
Despite the Cuts, no let-up in the Credit Crunch and European banking woes being forced into the open, properties are changing hands.
Markets are about people, and people have to move house – there are now hundreds of thousands of people who might have expected to have moved over the last 3 or 4 years, who haven’t.
Many continue to sit on their hands and do nothing. Interest rates remain low, people can afford to do nothing. That means a great many houses potentially for sale, but not on the market, so there are unlikely to be as many properties openly available for sale as people expect. In many parts of London and the UK there remains a shortage of stock.
However, the suspension of HIPS’s has allowed agents to go back to the time-honoured practice of ‘marketing quietly’ e.g . seeing what interest there may be in a property, without going to the expense of marketing and brochures.
The clever vendors are aggressively marketing their houses with good agents at the right price – a keen, competitive, fair and reasonable price.
And, at the same time, they will aggressively get out and into the market to find and secure the property they want to move into.
On the assumption that most people have to buy AND sell a property, it’s a great time to be moving. The market looks likely to remain stable over 2011 – potentially a good year to make a considered and rational move.
You do want to move, don’t you?
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