HURRY UP AND WAIT? Neil Maxwell
D
uring storm Eunice a client travelled
a
considerable
distance to view a house on
the seafront. Despite our best efforts to rearrange the viewing, the client was determined to see the property. As we feared,
the
waves
were breaking over the seawall and onto the building, which required us to wait between
crashing
waves before trying to open the front door. It was actually quite an exciting occasion, but also indicative of how there
are
so
few
properties for sale that a potential buyer w i l l ignore
storm
warnings to view a two-bed flat. The lack of property on the market is causing a major problem to the housing market, with incomplete chains now effectively throttling sales. And speaking to other agents around the country, this is very much a national issue. Many people who have sold their properties are now having to ask their purchasers to be patient whilst they try and find their next home, often leaving buyers waiting many months for things to fall into place. Going into rented 32
accommodation for some clients, in order to break the chain, has been an expensive, but sensible option, allowing them to make an attractive offer, without being part of an often complicated housing chain. Unless homeowners are willing to go into rented accommodation, the market is really stuck in a broken domino effect. And the more people that say they can’t find anything to buy, the less likely other people are to put their houses on the market. It’s difficult to see what might need to happen to break the deadlock. One recent property ended up with over six different good offers on the table and we worked hard with the owner to ensure they got the best price from the best buyer, especially as the highest bid doesn’t always present the best buyer for the homeowner. If you are thinking of selling, do give us a call and we can give you an objective opinion of the market and work with you to find your next home and, if needed, a patient buyer.
