The South East property market seems to be holding its own

We listen to the media and things look bleak: property prices are sliding; mortgages are more difficult to obtain and more expensive; energy and fuel prices keep on rising, and so on. After so many years of growth in the UK, times have become harder.

However, the property market in the South East appears to be holding its own, at least at the moment. I meet many propertyprofessionals during the course of running my home search business - estate agents, mortgage brokers, solicitors, surveyors, to name a few. Following quieter times during the last few months, several of these tell me that they are now very busy, with the number of property transactions in the Thames Valley apparently on the increase.

For example, a local estate agent told me last week that her experience with the house sales market is looking brighter. Although homes are now achieving from 5% to 10% less than they would have at the peak of last year’s market, sales were 20% higher in May compared to April. And buyer enquiries have increased in a similar pattern over the last few weeks. Some surveyors in the region, who were struggling for business at the beginning of the year, are now overwhelmed with work.

However, there are some increases that are not so good. Cases of gazundering are also on the rise as some buyers try to take advantage of market conditions. (See my blog - Is gazundering ever justified?).

The message that is repeated time and time again by any property professional is that the best quality properties sell! And purchasers are fighting over those. If sellers want to achieve a quick sale at the best price, then they need to make sure that their property is in tip-top condition and meets buyer expectations. Use the services of a good property stylist to maximise opportunities to sell: Chez-Vous HomeStyle specialises in helping sellers achieve this.

While there has been a downward adjustment in house pricing, the Thames Valley is very popular and therefore, still expensive. The Financial Times recently reported that “Surrey, Buckinghamshire, Hampshire and Berkshire are now among the top 35 most expensive property areas in the world”. Given such circumstances, it becomes even more important for buyers to use the services of a property search agent who will identify over-priced properties and will help their clients to negotiate the right purchase price.

In these more challenging times, clients of Chez-Vous HomeSearch appreciate our expert advice, independence and local property market knowledge. Not only do we save them time and stress on the search for the right property, they can also benefit from financial savings with effective purchase price negotiation, which is when our services become particularly cost-effective.

Laurent Stadelmann
The Property Finder & Relocation Professional

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