Over the last few weeks I have been catching up with my professional colleagues and researching what is happenning in the marketplace.
From my various conversations it appears that the market remains stagnant with property remaining unsold and Buyers still not able to raise the required funding.
It appears that properties are initially being marketed at to high a price putting off potential buyers and when the are eventually reduced sometimes significantly the question raised in the Buyers mind is “What is wrong with it”
This problem will not be resolved until
a Property is marketed at a realistic price
b The buyers are able to source funding
c That incentives are offerred to stimulate growth
From my viewpoint we are neither in a Buyers or a Sellers market and property will only move when the correct conditions apply and that there is realism in what can be done.

A relaxation in the stamp duty may help but not just for the first time buyer but across the Board starting at 0.5% for properties from £125000.00 up to £250000.00 and thereafter incremental rises of 0.5% calculated on the additional sums with a total duty of 4% on property over £750000.00. The duty will act very similar to income tax and will therefore prevent the present problem of property worth more than £250000.00 effectively being unmarketable unless the seller is prepared to accept only £250000.00 The same applies in the other present bandings

I am planning to do a series of blogs on how to choose an agent and the pitfalls of trying to sell privately so watch this space.

If there are any questions you want to have answered this is the blog to follow