With the numerous interest rate rises this year, it was inevitable that the sales market would eventually see a reaction. It is not all doom and gloom though, as activity levels remain high for properties priced at the correct level.

According to Nationwide the number of housing transactions has dropped from its peak by almost 20%, this is a national statistic though and around our core areas the drop has definitely not been this significant. However, we have noticed that lenders are being more cautious and we have seen several down valuations in recent weeks, when this has been almost unheard of over the last few years. Viewing levels are not what they were, with perhaps the holiday season being a contributing factor, but we are still seeing good offers for correctly priced property and consequently agreeing a similar levels of sales.

Pricing and the correct advice in this market is going to be a key factor going forward. We are noticing properties coming to market and not selling and the initial pricing of these properties does seem to be the issue. To see you through this market where all sellers will be facing an adjustment period, you need an estate agent that has the experience of a changing local market and this is where Gibson Honey excels. Our approach is always optimistic but most importantly realistic, and our valuations are based on fact with a thorough assessment of your property.

If you are looking to sell in the near future our property experts would be delighted to hear from you.