September 2009

The fall in property prices and the media hype has caused a huge amount of confusion among both buyers and sellers across the country. Bristol and Somerset is no exception.  Buyers are worried about potentially paying too much for a property and sellers not wanting to market their property for fear of having to sell well below what they consider an acceptable value. This has resulted in very few new houses coming to the market and a large amount of ‘game playing’ by some buyers who are trying to secure a bargain.

There does however seem to be light at the end of this very difficult tunnel. Predictions are that the bottom of the market is in sight. Buyers and sellers are coming closer together in value when negotiating for a property and transactions are being made. Some buyers now believe the market is offering value again which I have to agree with. A quality property that comes to market at a realistic price will sell as there is currently a shortage of good quality properties and buyers are outnumbering sellers.

Local agents are saying there can still be fierce competition for quality property in Bristol and Somerset as they are strong markets with continued  popularity among commuters.

Interestingly there seems to be an increasing amount of property on the ‘grey market’ . This is where vendors want to market their houses privately through estate agents. Fortunately due to Stacks’ excellent relationship and reputation with both local and national agents as an established  buying agent I am informed well in advance where possible about these  properties and I am able to give my clients a head start with an early viewing.