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Property News
Property Market
17 October 07
You will have seen a variety of reports in the press and on TV regarding the current state of the housing market in general. There is a wide gap between the opinions expressed, however, we can give you the true picture of the market in and around Skegness and Wainfleet.
The good news is that we are still selling! The secret is to ensure that properties are correctly marketed, well presented, and that the asking price is competitive. There are still many buyers in the market, but with so many properties to choose from, they will generally only view those that full fill their requirements as to size, type and location and that appear to be good value for money.
We offer an accompanied viewing service, including out of hours and at weekends, because we realise that purchasers are often working long hours and have limited spare time. Property prices have, in recent months, reduced slightly, however, they may well have stabilised and buyers should now be looking seriously to pick up a bargain.
The tightening of the market was due to increases in interest rates and uncertainty in the stock market and banking industry. Hopefully, that is all behind us now, the Bank of England did not increase interest rates last month, and many experts predict that interest rates will start to fall, probably with a small reduction next month and another in the New Year. There is a lot of unful-filled demand in the market, first time buyers wanting to get on the property ladder, and current owners wanting to move to bigger or smaller properties. We think the Spring will see the traditional hive of activity, and that property values in 2008 will increase by around 5%.
Buy a bargain now !
