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Market Update

Last week Lettings had a bumper week with 5 flats and houses being agreed for move-in. Rentals continues to remain stable as usual in the current climate.

Sales has of course been a matter of discussion this week as there is a factual slow down on price. Property Industry Eye's article states through Rightmove's research "..prices of property coming to market declined by 0.4% between May and June, the first time there has been a decline at this time of year since the height of the credit crunch in 2009 ."

Miles Shipside, Rightmove director, followed up by saying "The high levels of sales being agreed show that the underlying fundamentals are largely unchanged with high first-time buyer demand which drives movement higher up the ladder, all aided by the cheap cost of borrowing ."

To read more please visit - http://www.propertyindustryeye.com/typical-spring-boost-turns-into-a-stumble-as-asking-prices-fall/

In summary, our experience since the election is that people are making decisions but price reductions are key; If you are over enthusiastic on price it is likely your property will not sell and continue to sit on registers and will face multiple price reductions, putting your property at the bottom of the list. Buyers are out there and are looking for realistically priced property and motivated sellers.

Published on 26 June 2017