Spring 2021

Well it looks as if we are finally emerging from the most extraordinary 15 months plus to something resembling ‘back to normal’.  There is however nothing normal about the state of the property market in this corner of England!

The past year has seen unprecedented demand for property with space both indoors and out and as reported earlier any properties which had been languishing on the market pre-pandemic were quickly snapped up once restrictions were eased.  Since then demand has only increased and there has been no noticeable increase in supply of properties coming on to the market so consequently prices have increased by well over 10% over the past year with no sign of things slowing down. Houses are not even appearing on the property portals as the estate agents already have queues of people waiting to buy so they are being sold within days (or even hours) of the vendor starting viewings. Savills have reported that on average there are 8 prospective purchasers for every house they are bringing to the market.

Consequently there are a lot of frustrated buyers out there.  Our advice is not to panic; it is possible to navigate these stormy waters but you do need to keep your nerve and really work out what is important to you in your property search. Be prepared to compromise and try to take a long term view. It is likely that you will be paying a premium for your new home but if this is your forever home, does this really matter? It seems likely that there will be some sort of correction in prices some time in the future, but this area will always remain popular and there will always be a shortage of attractive properties so they remain a good long term investment.

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Please call us if you would like some impartial advice. We are here to help!