Sales through our office are up on the same period in 2009. Confidence has clearly improved, though it would be premature to predict that we are seeing a return to a stable, buoyant market. It will take some time for consumers to have unquestioned faith in the economy, whether nationally or internationally. Buyers are being discerning, choosing to compete for ‘good’ properties, but the price must be the point of attraction for others.
Winter is traditionally a time when the number of sales decreases, however it is also a time where we see some properties achieving outstanding prices. Sellers often wish to choose a time when the sun is shining and the garden is looking pristine to place their property on the market. By and large, buyers don’t have this luxury. Those buyers needing to purchase over the winter months often have less choice, thereby increasing the competition for good properties.
This seems to be what we’re observing at the moment.
One thing is certain, the number of listings will increase as Spring sets in, and those on the market first will face less competition from other available properties.
Finally, if choosing between investing in minor restoration, or marketing, this market will provide greater reward to those investing in marketing.
