The first part of the year was dominated by price reductions and clients changing agents. This strategy was very much backed up by statistics showing that about 40% of the stock sold was by the second agent, normally because the price was correct.

March saw a busy time as buyers were active, spurred on by this correct pricing which led agents to believe that the stock they had lined up for Easter and the rest of April would be well received. Unfortuantely this did not happen and currently we have reasonable stock levels but with less activity. Viewings are taking place but they are less frequent and there is a general lack of commitment.

Therefore over the coming months there will be some sellers who do not want their property to go stale and would rather negotaite.

At Stacks we have access to this stock, as the sellers and agents trust our judgement. This gives YOU a great opportunity to view fantastic properties and then leave us to negotiate on your behalf!

Reflecting on last year: We saw the start of the year bringing a degree of optimism to the property market, with agents reporting a significant increase in new applicants registering, an increase in viewings and in contact from potential vendors. However, as we progressed through the early part of the year, this activity seemed to slacken somewhat.

As expected in a fairly static market there was the usual continuing round of price reductions and/or the changing of selling agents on properties that had been available for some time, but new quality properties coming to the market remained fairly thin on the ground.

The ongoing credit restrictions, European debt issues, poor economic indicators, the Cuts, increasing living costs and inflation are all undoubtedly having a negative effect on the property market in general – and we have entered 2012 with continuing negative news.
However the number of good quality properties coming to the market in all price bands remains at a low level, coming as it does from a relatively small finite supply and, as always, there are good buyers around for these. This can lead to the rather unexpected situation of quick sales and competitive demand (leading to some best bid situations) in this sector, whilst the bulk market and more secondary properties will have to reflect the current market trends and reduce prices to very competitive levels if they are to effect sales.

It is however important to remember that to secure a good quality property that is new to the market and priced realistically will require quick reactions – if you delay your viewing you are likely to miss out.

There are still a significant number of vendors who, perhaps sensing the slower market conditions, are not prepared to openly market their properties at present, although they do wish to sell at some point. The suspension of HIPS’s has allowed agents to go back to the time-honoured practice of ‘marketing quietly’ e.g. seeing what interest there may be in a property, without going to the expense of marketing and brochures. These properties are available to purchase – if you can find out about them, but beware – often their asking prices can be optimistic!

In what can seem a rather confusing and unpredictable market, the need for professional assistance is more important than ever:

To be able access the whole market – properties openly marketed together with those covertly available.

To establish whether the price guide is realistic or over optimistic.

To negotiate the best deal on behalf of the purchasing client – taking into account all the circumstances, including the expectations of the purchaser and the situation of the vendor.

The engagement of a professional buying agent is probably as important and valuable now as it has been for some years.

Towards the end of last year the balance between supply and demand had swung in favour of the buyer, however now that a lot of the “best of type properties” that were correctly priced have sold, there is a shortage of these.  So whilst there is now greater general choice and some softening of vendors’ expectations, “best of type” is hard to find at sensible prices.

Reflecting on the year to date:  We saw the start of the year bringing a degree of optimism to the property market, with agents reporting a significant increase in new applicants registering, an increase in viewings and in contact from potential vendors.  However, as we progressed through the early part of the year, this activity seemed to slacken somewhat.

As expected in a fairly static market there has been the usual continuing round of price reductions and/or the changing of selling agents on properties that have been available for some time, but new quality properties coming to the market have remained fairly thin on the ground.

The Easter/Royal Wedding/bank holidays allied with the unusually good weather seemed to create a three week break, with a noticeable reduction in activity in the property market – rather more like August than April – whilst activity returned to the market in May it seemed to be at a rather lower level than before the break.  August saw its usual reduction in activity.

The ongoing credit restrictions, European debt issues, poor economic indicators, the Cuts, increasing living costs and inflation are all undoubtedly having a negative effect on the property market in general – it will be interesting to see how the Autumn market reacts.

However the number of good quality properties coming to the market in all price bands remains at a low level, coming as it does from a relatively small finite supply and, as always, there are good buyers around for these.  This can lead to the rather unexpected situation of quick sales and competitive demand (leading to some best bid situations) in this sector, whilst the bulk market and more secondary properties are having to reflect the current market trends and reduce prices to very competitive levels if they are to effect sales.

It is important to remember that to secure a good quality property that is new to the market and priced realistically will require quick reactions – if you delay your viewing you are likely to miss out.

There are still a significant number of vendors who, perhaps sensing the slower market conditions, are not prepared to openly market their properties although they do wish to sell at some point.  The suspension of HIPS’s has allowed agents to go back to the time-honoured practice of ‘marketing quietly’ e.g. seeing what interest there may be in a property, without going to the expense of marketing and brochures.  These properties are available to purchase – if you can find out about them, but beware – often their asking prices can be optimistic!

In what can seem a rather confusing and unpredictable market, the need for professional assistance is more important than ever:

To be able access the whole market – properties openly marketed together with those covertly available.

To establish whether the price guide is realistic or over optimistic.

To negotiate the best deal on behalf of the purchasing client – taking into account all the circumstances, including the expectations of the purchaser and the situation of the vendor.

The engagement of a professional buying agent is probably as important and valuable now as it has been for some years.

As expected in a fairly static market there has been the usual continuing round of price reductions and/or the changing of selling agents on properties that have been available for some time, but new quality properties coming to the market have remained very thin on the ground.

The Easter/Royal Wedding/bank holidays allied with the unusually good weather seemed to create a three week break, with a noticeable reduction in activity in the property market – rather more like August than April – whilst activity returned to the market in May it seemed to be at a rather lower level than before the break.  August is seeing its usual reduction in activity.

The continuing credit restrictions, European debt issues, poor economic indicators, the Cuts, increasing living costs and inflation are all undoubtedly having a negative effect on the property market in general – it will be interesting to see how the Autumn market reacts.

However the number of good quality properties coming to the market in all price bands remains at a low level, coming as it does from a relatively small finite supply and, as always, there are good buyers around for these.  This can lead to the rather unexpected situation of quick sales and competitive demand (leading to some best bid situations) in this sector, whilst the bulk market and more secondary properties are having to reflect the current market trends and reduce prices to very competitive levels if they are to effect sales.

However to secure a good quality property that is new to the market and priced realistically requires quick reactions – if you delay your viewing you are likely to miss out.

There are still a significant number of vendors who, perhaps sensing the slower market conditions, are not prepared to openly market their properties although they do wish to sell at some point.  The suspension of HIPS’s has allowed agents to go back to the time-honoured practice of ‘marketing quietly’ e.g. seeing what interest there may be in a property, without going to the expense of marketing and brochures.  These properties are available to purchase – if you can find out about them, but beware – often their asking prices can be optimistic!

In what can seem a rather confusing and unpredictable market, the need for professional assistance is more important than ever:

To be able access the whole market – properties openly marketed together with those covertly available.

To establish whether the price guide is realistic or over optimistic.

To negotiate the best deal on behalf of the purchasing client – taking into account all the circumstances, including the expectations of the purchaser and the situation of the vendor.

The engagement of a professional buying agent is probably as important and valuable now as it has been for some years.

(NOTE:  The highest rate of Stamp Duty (currently 4% on purchases over £500,000) is to have a new extra rate of 5% on sales over £1 million, which will be applicable to the whole amount.  This change comes into effect on sales where the ‘effective date’ (usually the date of completion) is on or after 6th April 2011.  Where a house is £1 million or more it is obviously in the buyer’s interest to complete before April 6th).

The continuing Credit Crunch, some poor economic indicators, the Cuts, increasing living costs and inflation will all undoubtedly have a negative effect on the property market in general and time will tell to what extent.  However the number of top quality properties coming to the market in all price bands is still at a low level, coming as it does from a relatively small finite supply and, as always, there will be good buyers around for these.  This can lead to the rather unexpected situation of competitive demand, leading to some best bid situations in this sector, whilst the bulk market and more secondary properties are having to reflect the current market trends.

An increase has been noted in the number of vendors who, perhaps sensing the slower market conditions, are not prepared to openly market their properties although they do wish to sell at some point.  The suspension of HIPS’s has allowed agents to go back to the time-honoured practice of ‘marketing quietly’ e.g. seeing what interest there may be in a property, without going to the expense of marketing and brochures.  These properties are available to purchase – if you can find out about them.

What is likely to be a continued softening of the market and prices will present an excellent opportunity for buyers able to proceed with a purchase, who now have a stronger negotiating position than they have had for some time.

In what can seem a rather confusing and unpredictable market, the need for professional assistance is more important than ever:

To be able access the whole market – properties openly marketed together with those covertly available.

To establish weather the price guide is realistic or over optimistic.

To negotiate the best deal on behalf of the purchasing client – taking into account all the circumstances, including the expectations of the purchaser and the situation of the vendor.

The engagement of a professional buying agent is probably as important and valuable now as it has been for some years.

 If you are planning to use a buyer’s agent make sure you engage and brief them sooner rather than later, so that they can make you aware of properties now that are being prepared for sale in the Spring.

The Autumn market traditionally shows an improvement in activity after the summer holiday lull, and this year has seen an increase in property coming to the market, together with the usual round of price reductions and changes in Estate Agent, or both.  However there is still a large divergence in price guides between properties which are coming to the market, or having price reductions, at realistic levels and those where the vendor expectations or needs continue to be too optimistic.

The number of top quality properties coming to the market in all price bands is still at a low level, coming as it does from a relatively small finite supply and, as always, there are good buyers around for these.  This creates the rather unexpected situation of competitive demand, leading in some cases to ‘best bid’ situations in this sector, whilst the bulk market and more secondary properties are having to reflect the current market trends of increased competition and fewer buyers by pricing very realistically if they are to stand a chance of selling.

The statistics produced by the financial institutions and emanating from the media are generalised and tend to apply to the ordinary bulk market.  Individual, good quality property does not perform in the same way and comparison is inappropriate.

An increase has been noted in the number of vendors who, perhaps sensing the slower market conditions, are not prepared to openly market their properties although they do wish to sell at some point.  These properties are available to purchase – if you can find out about them.

The softening of the market and prices and the increase in supply of property presents an excellent opportunity for buyers, who now have more choice and a stronger negotiating position than they have had for some time and this situation is likely to continue through the winter.

However, in what can seem a rather confusing and unpredictable market, the need for professional assistance is more important than ever:

To be able access the whole market – properties openly marketed together with those covertly available.

To establish whether the price guide is realistic or over optimistic.

 To negotiate the best deal on behalf of the purchasing client – taking into account all the circumstances, including the expectations of the purchaser and the situation of the vendor.

The engagement of a professional buying agent is probably as important and valuable now as it has been for some years.

Hopefully now we are past the snow, volcanic ash disruption, the election and finally the budget all of which seem to have had the effect, or perceived effect, of reducing activity in the property market, it is likely that we will begin to see an increase in activity over the next few months, both in terms of properties becoming available and resultant sales. The market always suffers from reduced activity in times of uncertainty, so it is likely that be would-be sellers, who have been delaying the moment they put their house on the market; and would-be buyers who have been holding out, will now actively enter the marketplace. Overall, activity is likely to increase on pre-election levels over the next quarter.

It was a good time to sell and buy before the election, and it remains so. Prices are unlikely to increase in the second half of the year, so there’s very little reason to wait to sell. If anything, as supply increases, we may see a softening in the levels of sale prices during the rest of the year. It is noticeable how the level of price reduction notifications has increased in the past weeks, with some properties on their second or third round of reductions! However, there are still some very wide discrepancies in the values that are being placed on property. Some are priced correctly and some appear heavily over-priced. Potential purchasers must take advice to be sure of the correct price level for a particular property, before proceeding to negotiation

Low interest rates continue and the slow easing of lending by the banks will encourage property transactions. Lack of supply has been the main limiting factor to a robust market, but we predict that the situation will start to ease slowly. Vendors should take advice on value, and not expect inflated prices – stories about competitive bidding and gazumping are restricted to a tiny minority of properties that are limited in supply and perfect in every respect – and usually begin from a sensible and competitive initial price guide.

Purchasers are able to take advantage of the relative slowness of the property market to make considered decisions, comparing properties and prices, and to keep an eye on new properties coming onto the market. While there is still an undeniable shortage of quality property available, it’s an ever changing picture, and an extremely complex environment – but still one that should provide buyers with opportunities.

The need for purchasers to obtain good professional advice is more important than ever.