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Bullish Bear

Wembley

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After a period of time when many properties were stuck on the market, it appears that there has been some movement in July/August.

Daniels Estate Agents in Sudbury Court Estate have sold a few properties. I will let you know the prices when they are available on nethouseprices.com. Many properties still stuck including some that are now approaching a year on the market. Some discounting is evident but nothing amounting to a crash.

Bairstow Eves are struggling - nothing really moved on their books and I suspect only a matter of time before some of the agents start losing their jobs.

Salter McGuiness has far reduced volumes of sales. A number of houses have been marked down in price but the majority are still stuck firmly to the agent's windows.

Christopher Rawlinson seems to be working on getting deals done. Seems to be the busiest of the local agents but once again not as active as they were last year. Some properties priced too high to get any real offers - maybe they will be lucky but chances are that they will need to discount heavily before long.

Smaller agents really do seem to be in trouble. Would not surprise me if one or two go under before christmas.

My advice to buyers - 15% off asking price is the maximum to offer. Hold off until next year.

My advice to sellers - get real. Check out nethouseprices.com and find out what similar properties sold for and then put it on the market for less. No one is going to be fooled into paying over the odds when unemployment is up and inflation is heading upwards.

My advice to agents - Listen to the buyers. If they say the price is too high, then it probably is. Price sensibly or be prepared to discount heavily later when volumes get even thinner. Trust me, they will. I talk to lots of people in the area and most of them are not going to buy.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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