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An Undynamic and Unfrenzied Market

Buyers and registrations here in the West End remain at about the same level as this time last year, as do achieved prices.

Buyers and registrations here in the West End remain at  about the same level as this time last year, as do achieved prices.

 

The press is full  of reports of prices being reduced heavily. We believe that this is more the case of owners having to discount from original delusional  asking prices having been poorly advised in many cases by agents with an eye on the instruction, rather than the client’s best interests.  
 

We have been selling properties that are priced correctly from the start. Our marketing opinions are evidence based and supported with comparable evidence.

Viewings per sale have increased slightly with buyers showing no urgency until someone else shows interest in the same  property. This  happened this week on a two bedroom property in Holborn where a buyer looking for a deal was convincingly out-bid by another who saw the value as is was.
 

Most of the buyers looking with us at the moment are motivated and are keen to secure a property , most usually come with a time frame in mind , whether it be before winter, before the 'back to school' period etc.
 

Stirling's weakness continues to support overseas interest, only last week we exchanged on a property in Shaftesbury Ave for £1.480m to an American buyer. Between the time of the offer was accepted and completion, the American buyers dollars bought more at least five percent more Stirling. 
 

We have seen the market cycle many times before. Our clients know and understand that we have unparalleled long term experience. When dealing with assets of this value it helps to have someone who knows what they are talking about and who fully understands the long game but most importantly prices correctly.
 

I feel that for the time being, the market is balanced. A shortage of stock, rising overseas interest and a flattening out of prices after a decrease of about 10 to 15  percent from the peak prices of 2015, means we are working in an undynamic, unfrenzied market place but  gaining good rewards for our clients. 

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