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  WEST SUSSEX PROPERTY BLOG

The West Sussex Property Blog

Londoners are still on the move out of the City

According to an interesting article in Property Industry Eye, there has been a record number leaving the Capital to move out to cheaper areas of the Country.  With most of these moving to the South East of England, we are perfectly placed to benefit!
 

Bottoms Up! We take a look at what and who is driving the property market this spring.

An article discussing who drives the property market at the moment - first time buyers or wealthy buyers.
 

Decisions, Decisions, Decisions

Markets are forever in flux. That is their nature. So our handling of them must be flexible too. In the stock market we can buy, hold or sell depending on conditions. In a fruit and vegetable market we can buy the freshest produce early in the morning at the full price, or at the end of the day we can purchase what no one else has bought at a cheaper rate.
 

A Word To The Wise

Neil Moore, MD at GL & Co Estate Agents, considers opposing forces that are affecting the property market this spring.  The post-Brexit property market is turning into a paradox. With low interest rates, declining numbers of unemployed and an economy that appears to be on a strong path of sustained improvement things should be booming. Confidence, the lifeblood of the property market, should be surging though its heart, pumping up prices as the numbers of available properties dwindle. It should be the classic sellers’ market. Except it isn’t. Why?
 

The North Wind Doth Blow

Guy Leonard & Co's blog - keep your home warm over the cold snap!
 

The Spring Property Market

Neil Moore comments on the current property market
 

Green shoots in the market?

Miles Shipside of Rightmove is telling us there are genuine reasons to be cheerful about the property market in 2013!
 

How do we see the economy in 2013?

Neil gives his thoughts on the economy in 2013 following a conference he attended last week.
 

Is confidence coming back into the property market?

Is confidence coming back into the property market?
 

Scramble! The September Property Market

Neil Moore of Guy Leonard and Co Estate Agents posts his latest West Sussex property market comment
 

Turning to the Autumn Property Market

Neil, Managing Director of GL&Co shares his thoughts on the Autumn property market.
 

Neil Moore comments on how the landscape of property purchase is changing in the post-recession period, and how the spring Budget will bring some cheer to some hard-hit first time buyers.

Neil Moore comments on how the landscape of property purchase is changing in the post-recession period, and how the spring Budget will bring some cheer to some hard-hit first time buyers.
 

Property and Prejudice the continued reticence of the banks to offer sensible mortgages

It is a truth universally acknowledged, that a single family in possession of a good mortgage must be in want of a house.
 

A Game of Two Halves! Neil Moore comments on the property market after a very busy Spring.

A Game of Two Halves!  Neil Moore comments on the property market after a very busy Spring.
 

The Chancellor Giveth and the Chancellor Taketh Away

The Chancellor Giveth and the Chancellor Taketh Away The 2010 Budget was, overall, rather neutral for the property market.  But there are some winners and losers.  The increase in the Stamp Duty threshold - doubled to £250,000
 

House price update

According to property website Rightmove, the average asking price for houses in England and Wales increased sharply in the four weeks to October 10
 

We are delighted to announce a number of new appointments to the team in the last 3 weeks.

Adrian Passingham has joined our Pulborough office to work along side Michael Comyn, Adrian's wife runs a local Barbour shop in Lower street and they know the area well, Adrian brings many years of experience in agency in West & East Sussex.

Martin Hyre has joined us as manager of the Horsham office with nearly 20 years experience of agency in Sussex, latterly manager of Howard Cundey in East Grinsted.

Stewart Cunningham has joined him at Horsham office and brings over 5 years experience in agency and other related fields prior to estate agency.

These new colleagues joining us in the current climate has shown that even in difficult times it is possible to expand.We have proved and firmly believe, that if we offer good sound advise to clients you can achieve a sensible level of sales.

We have time and again bucked the trend in the property market. This has been done by being forward thinking and having the self belief that you can achieve anything if you are tenacious, positive and hard working. Continuing excellent customer service at all times will mean striving for excellence and accepting only complete success.

Welcome to our new colleagues, you will all achieve the un- achievable if you take notice of the above.

 

 

Lending was up by 7% in October to £18.7bn great news and shows that given the opportunity people will buy and and move home for those astute buyers they will be getting into the market at a low point and this will give them the benefit of medium to long term gains.

I firmly believe that if lenders are prepared to free up lending, at these attractive interest rates buyers will continue to make sensible purchases of good value homes.

HSBC took a full page advert in the Sunday Times yesterday explaining how it was going to lend £15 billion in 2009 in new mortgages. well if all the lenders start committing to this the only way is forward.

I can't wait until 2009 excitement is not the word, it will be challenging but we are so focused on the marketing campaigns planned and continuing to build our already successful brand.

The farms department is growing the lettings department has had huge growth in 2008 and the sales department is growing slowly but a big improvement in the last 2 months. Bring on 2009 I say!!

 

With interest rates taking another dramatic step down of I am thinking about the state of the local property market and feel that for many this has become a time of great opportunity.

Many of us will be pleased to see the back of 2008. Certainly most of us in the property sector will be.  Of course no one can be sure how much better next year will be but there are signs that at least suggest some optimism is warranted, especially as the Bank of England interest rate has dropped to its lowest for 57 years.
 
Despite a slow market, I can't think of a better time in years to be buying property.  The choice right now is amazing. In a buoyant market scarcity and time/price pressures lead buyers to compromise.  Here is a market where the need for compromise is much reduced.  There is time to explore the market.

Prices have tumbled. Property that for some was unaffordable two or three years ago is now affordable. Serious sellers are really pleased to discuss offers.  If the mortgage lenders would only begin to lend sensibly - and there are signs that the choke is being released a little - all buying factors would be in perfect alignment.  I can't think of a time when this has happened to such a degree.
 
There will be those who still want to wait.  But wait for what?  Prices to fall lower? They may.  But wait until the optimum moment and it will be too late.  Only by a fluke will a buyer complete on the day the market eventually bottoms out; and the day after is a day too late.  There is no exact science in property.  So it is better to find that uncompromising house of your dreams now. Yes, the value may drop a bit further and, it should be stressed, if you have employment or money worries, this is no time to buy.  But for those in a good position, who are making middle to long-term plans, there should be plenty of time to recoup any short-term losses.

So for buyers now is the moment to find the property you’ve dreamed of rather than the property that you might have had to settle for in different circumstances.  The market is yours.  Make the most of it.  It won’t last.  In the property market nothing ever does.

 

As we start the day with a new 15% VAT rate I wonder how this will make a difference to the property market and economy. I feel the short answer is none and that it has been brought in by the Government to help with a feel good factor. For a lot of small companies the administration involved in making the changes is a heavy burden and the benefit very small for the consumer.

The market will start to improve when the Government force the lenders to free up lending at sensible rates.  In the meantime the winners of this market are those people that realize that there is still a market and if they buy or sell now they will have moved at the right time benefiting from low values and less borrowing at better interest rates.

Our Horsham office had a fantastic Saturday with 14 viewings carried out and 3 offers to start the week, long may it continue.