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22 Jan

Posted By: David Florence 22nd January

Prices, Prices, Prices

January has started very strongly, we have not really stopped since new years day; not that I am complaining.


After last year's prices increases, I was interested to see what happened this year; yes I expected prices to continue to increase.......but the question was at what rate?


In the last few weeks I have seen a few homes come onto the market with other agents at what I feel are VERY strong prices. ..... now this may be the owners are testing the water, it may be the agent felt he had to go high to win the business or it may be that the agent has a particular client in mind.

(At the time of writing this, both houses I'm thinking a about are still unsold!!)


Whilst it is good that the market is positive, I don't see this massive continued price rise to be very positive, it is beginning to price people out of the market and that in turn is reducing the number of houses coming to the market.  The people that are buying are paying top money, when 'perhaps' the houses are not worth it?? I have also heard about lenders being more picky about lending values and if a sale gets down valued by a lender lots of people are affected....this could be avoided if agents were not swept up in winning the business and gave clients their real opinion.


Overall prices will rise based upon demand, and with  a shortage of stock that will continue to happen; all I hope is that agents are being honest with their clients or there may be a few issues in the months coming.


I would also add that with the tax changes for investors, the smaller properties are experiencing massive demand. ...but if the end of March can not be reached for a completion I feel there will be a lot of disappointed sellers when the investor can no longer buy at the same price- again this comes back to honest agents!! (There are are few!)


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