Keep up to date with the latest Michael Brooker news
Sat 1 April 2023
Uncertainty is affecting the Residential Property Marketplace. Increased mortgage rates and general cost of living and falling prices have inevitably created some nervousness. Overall, we are finding the price of sales agreed is between 7 % – 10% less than we would have achieved at the peak of the market a year ago.
In the present market conditions, correct pricing is essential. Over optimistic pricing leads to reductions, which in turn, tend to lead to achieving a lower figure than if the property had been correctly priced when initially marketed. In a falling market it is not easy to determine the correct value of a residential property. Being misled by over ambitious figures unfortunately does not create a sale. This is where Experience Counts.
Our Combined Experience of well over 100 years is second to none in the area. Therefore, if you do require advice in respect of your property, we hope that you will not hesitate to contact us.
The Lettings market continues to be extremely active. There is an abundance of tenants but a shortage of supply which has inevitably led to rent increases. Again, if we can assist you in respect of Lettings and Management, please do not hesitate to contact us.
