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tonytramcar

Improving Market In Devon?

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I quote from an article in the property section of yesterday's Torquay Herald Express :

"October saw the largest increase in new house buyer enquiries in two years and marked the fourth consecutive

month of increases says RICS survey. But it warned that overpriced properties will remain unsold.."

"Buyer interest is still benefiting from August's interest rate cut.. "

"Sales activity is seeing a modest increase.."

"Stock of available property has fallen.. Buyers still retain the balance of power, though this is beginning to shift

as the recovery has been sustained"

"The recovery in buyer interest in recent months has led to predictions of modest price rises in seven regions for the next three months, including in the South West where "moderate" increases are predicted.."

"House prices in the region have shown little significant change since October, marking the end of a downward trend since mid 2004. But new buyer enquiries "rose firmly" said the report, the fifth successive monthly rise, and agreed sales have also resumed a previous rising trend. RICS spokesman said October had seen further evidence of a pick - up in the market with the recovery in would-be buyer interest. Contributing factors include diminishing uncertainties over the future of interest rates and rising emloyment which is lifting the demand for homes. "

In fairness, the final comment reads: " The return to more balanced market conditions is welcome, though negotiations between buyers and sellers remain hard, and over-priced property continues to remain unsold. A return to boom conditions is not at all evident"

I submit the foregoing to the "VI spin of the week" competition.

Anyone in the Torbay are (or anywhere else) like to comment?

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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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