July Market Comment
Fisher German has certainly seen a quietening of the market in the last 12 months following the 5 consecutive base rate rises by the Bank of England in 2004.” Reports Richard Clowes of the firms Market Harborough office.
Deals are still being done at prices around 10% below last year (which is still an enormous amount above 4/5 years ago). Although there is not the competition for houses as there was over the last 4 years there is still a number of excellent buyers looking for the ‘right house’. Many do not have the confidence to actually sign a contract and will use every trick in the book to gain reductions in the price close to exchange of contracts.
Demand for the right property in the right place is shown by the number of buyers that were willing to purchase Rough Hill in the heart of Charnwood Forest which was finally sold at a private auction for well in excess of the guide price of £1.3m.
A small farmhouse with a number of barns and 15 acres in a stunning position in east Leicestershire has attracted a great deal of interest with a number of offers being presently considered.
What does the future hold? A reduction in interest rates will certainly give more confidence to purchasers - certainly first time buyers. It will not be a smooth ride but Vendors will have to do everything to attract buyers; have their houses and particularly their gardens looking their best to gain the best prices possible.
- Ashby de la Zouch
- 01530 412821
- Banbury
- 01295 271 555
- Knutsford
- 01565 757970
- Market Harborough
- 01858 410 200
- Newark
- 01949 851815
- Southampton
- 02380 883150
- St Helens
- 01744 451145
- Stafford
- 01785 220 044
- Worcester
- 01905 453275
