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House prices are continuing to be effected by the economic climate and the restrictions on lending, with the Nationwide releasing their 3rd quarter house price index for 2012 which shows a fall of 1.4% on the average house price http://www.nationwide.co.uk/hpi/default.htm .
The prime country house market although not mirroring this pattern has in its own way been affected, mainly due to lack of stock coming to the market and the cautiousness of buyers during uncertain economic times.
Properties that have to be sold but which are in some way blighted have continued to see price reductions, which is really in most cases them being bought closer to their intrinsic value. But reductions alone are not enough for the discerning buyer, who currently feel that it is their market place and under no pressure to buy, unless they find something that is perfect.
Buyer – don’t get frustrated. The reality is that there are sellers are out there, it’s only that many are only marketing their home very discreetly through buying agents like Elite Property Search, as they see them as a source of active and credible buyers. An advantage of this approach is that the market can be tested but the property doesn’t gain a shelf life.
The old saying of “quality will sell” very much still holds true so if you have a Prime Country House and want to sell but don’t know whether now is the right time to bring to market, speak to those who have no conflict of interest, an independent buying agent who can advise but more importantly bring hungry buyers to the table.
For further information of how Elite Property Search can help you contact:
London Office: Max Storey tel: +44 (0) 207 060 2338
Central Office: Andrew Findley tel: +44 (0) 1865 479980
South East Office: Tim Sharp tel: +44 (0) 1483 256775
South West Office: Joe Nisbet tel: +44 (0) 1202 766566