Early 2012
I signed off my last Marketing report by saying that while things were generally slow and would not improve before Christmas the Estate agents were reporting that they were valuing numerous properties that would be launched in January and February 2012.
Wrong!
Where are all the properties? Estate Agents are currently scratching their heads at the lack of properties coming to the market.
Normally at this time of year the agents are run off their feet trying to win mandates for the spring launch but in 2012 this is not happening. “After Easter” is the cry. “Do you know this is going to happen or are you hoping?” I reply. “Oh hoping” is their only answer. Country Life magazine would normally have double the pages of property at this time of year but this spring it is not happening.
And why is this? Some vendors are still hanging on for the pre 2007 prices while others cannot find what they are looking for to move on. Now it is more important than ever to be ahead of the game and keep on top of what is available and what may come to the market.
The same properties that were over priced last year are being re launched this spring at similar prices – they were too expensive then and are too expensive now. Don’t get me wrong a good quality property will fly off the shelf at a good price but at the moment they are few and far to be seen and it is more important than ever to be in a position to proceed and not be reliant on a sale or a chain. If you are serious buyer get yourself into a cash position and don’t miss the boat.
Now that the government have announced the HS2 plans and route vendors and buyers are in a position to make a much more informed decision on their future plans. Property on the route will be much more affordable and those that can put up with it will get much more for their money. One must not forget that there will be great disruption while it is being built and people who have to commute across the route to get to their work either directly or to a rail station will be inconvenienced for a few years.
Property values west of the HS2 and west of the M40 in North Oxfordshire and Warwickshire, but commutable to Banbury or Bicester North stations, will see their values held up.
Rental prices are holding up as more buyers are getting themselves into a cash position while current house sale prices are holding up due to a lack of good quality stock available.
More and more enquiries to me at Stacks give a school as their main requirement to live in an area. “…..no more than 20 minutes to Winchester House at Brackley” or “…..we are going to be using the Oxford Schools”. Therefore if you are not using these local facilities as your children have moved on or other then take advantage of the situation. I have buyers for your house!
