On the move
6 FEBRUARY 2013
Looking back over the deals we helped clients with last year, the over-riding reason for the timing of their purchase was nothing more complicated than the fact the right house became available. In the South West nearly all the houses we purchased were either private sales or bought pre-advertising. This is largely because if buyers were nervous, vendors were even more so and given that for many the timing of their sale was entirely discretionary they were reluctant to place their house on the open market and not have it sell. They all needed the encouragement of knowing there was a serious represented buyer for their house.
It is early days to assess how the market will pan out this year but there are some positive signs; selling agents are reporting a rise in new applicant enquiries although so far the number of houses they have to sell is small. The market will continue being very price sensitive, but if applicant numbers continue outweighing supply the inevitable competition will do two things, give sellers and buyers confidence as well as underpinning values.
Another feature of this year is clients who consulted us one, two and in some cases more years ago, who decided they did not like the feel of the market have now decided to get on with their move, accepting the current market conditions are ‘the new normal’. I am not brave enough to call the bottom of the country house market, but with a probable increase in buyers and deals done the person who buys a house at the right price this year is unlikely to regret the decision in years to come.