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Yesterday, RightMove released their first market analysis of the year, the contents of which sparked two very different headlines.
Clearly, two different industry blogs choosing to use very different spin to cover the same story. The fact is, we find ourselves again in very uncertain times. I do not think the research department of any leading agency or financial institution would want to be held to their forecasts for the coming 12 months.
What is clear from the Rightmove figures is that buyer enquiries are most definitely up, whilst new stock (in the first few weeks of the year at least) is at an all-time low.
These trading conditions are naturally bad news for estate agents and for the market in general. Would-be sellers appear to be holding back from bringing their property to market out of fear or uncertainty that now is not the right time to be selling.
The Rightmove research is not entirely negative however, claiming that there are more buyer enquiries than ever before. Whilst these stats do not take into consideration market share or general internet user behaviour data, they do however provide positive news at a time when everybody seems focused on “Doom & Gloom”.
Another point worth considering is that fewer instructions combined with record buyer levels; means that buyer representation is more valuable than ever.
In addition, we know from past success that a represented cash buyer can actually be the catalyst required to stimulate a hesitant vendor into selling a property.
For the disheartened buyer then, there is no need to give up hope just yet. Appoint the right buying agent to help unlock those properties not currently making it to market.
Hesitant vendors, speak with your estate agent and discuss the possibility of a “bottom draw” mandate. This will allow you to test the market without your property going stale. Alternatively, contact property search agents to see if your property is suited to any of their buying clients.