.. but have we got a summer?
There have been some good deals going through over the traditional Spring market – but it started late and transaction levels still remain low.
The lack of stock has caught many vendors, buyers, potential vendors, potential buyers and agents by surprise.
The last window to grab an absolute bargain was last winter 2008/2009. Many potential sellers saw the carnage and and have held off coming to the market over Spring 2009, in the belief that they would not sell as there was no market and/or that they would only be offererd fire-sale prices. In hindsight, they have been wrong on both counts. There have been both a market and an acceptable level of adjusted price achieved.
The question is: what now?
There will be more stock coming through over the Autumn but supply will remain thin and patchy. With interest rates remaining low and 90% of homeowners in positive equity, the pressure to come to the market will be driven by the brave, Debt, poor employment prospects and the underlying cycle of changing property requiremnts. I think that many may miss the opportunity to trade into a market of some stability.
My advice to those looking to move is get your house on the market, get your finances in order and get ready.
Winter will be on us before you know it.
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