Despite all the gloom in the press, national property agents Strutt & Parker report that the past two weeks have been not only busier than the past few months, but a whole lot busier than this time last year.
In Strutt & Parker’s St Albans office, viewings are at a record 60% higher than at the same period last year, and over the first two weeks of January they have received sale offers totalling over £7.5 million; it certainly seems like the thaw is on its way!
Mark Rimell, Partner in Charge of the St Albans Office comments, “I think the market is certainly starting to look more positive. Vendors are taking a more pragmatic stance, accepting that prices are lower than they were last year and being more realistic in their expectations, whilst buyers seem less cautious than they were a few months ago. I think people have tired of waiting for the economic climate to change and have decided, in essence, ‘to just get on with it’.
Many buyers are being drawn in to take advantage of the fantastic offers available at the moment. Both with the drop in base rates to 1.5% meaning that there are some excellent mortgage deals available at the moment and with property prices at about 20% lower than this time last year; in many ways there has never been a better time to buy.
Mark Rimell remarks, “there are certainly buyers being tempted by the fantastic offers out there and my view is that buying a property at the moment will undoubtedly prove a good investment over the course of the next few years.”