Looking Ahead to 2013

As the celebrations and commotion of the Olympics becomes a distant memory, and the normal seasonal cycle has resumed and we firmly in a position where the phrase ‘A buyer’s market’ is fully applicable. With the nights drawing in and Christmas rapidly approaching we are expecting the usual slowdown in the market, with signs of a reduced the number of viewings being arranged.

It is evident that there is a positive correlation between an accurate, precise marketing price and a property’s time on the market.

At the same time, we are seeing a polarization of demand between two vastly different classes of properties. On one hand we have the fully modernised, refurbished and ‘move in ready’ properties. On the other, the ones with development potential and buy to let. Here at Wilkins Vardy we strive to understand what it takes to sell a property in the current climate and are always aiming to improve our understanding of the current market.

The announcement that the double dip recession had ended was certainly welcome news, but has to be balanced by the less widely publicised tightening of restrictions on mortgage lending.

Our expectation is that the market will carry on very much as it is for the foreseeable future.

Neil Hunt BSc FRICS
Managing Director