PROPERTY
Springwatch
Sam Biles
MRICS FAAV
Now that spring is in full swing Sam Biles of leading Country and Coastal estate agents
Creasey Biles and King comments on how the property market is responding to the
warmer weather.
It is Springwatch here at CBK - not
the BBC wildlife show - we have been
actively watching for those signs that
the Island's spring property market
has burst into life.
While Island plates have been piled
high with early local asparagus and
our woodlands thick with bluebells,
the market too has been showing
clear signs of new life.
Despite continuing difficulties with
mortgages and nervousness about the
economy and employment, buyers,
especially in the middle and prestige
market sectors, have failed to be put
off and numbers of viewings over
the past few weeks have been rising
steadily. This always augurs well for
sales and we anticipate that after a
clutch of Bank Holidays there will be
greater activity as we move into the
early summer.
But what is really needed right now
is some more interesting property
coming onto the market. Would-be
sellers are being a little reticent,
or ambitious with their pricing.
Limited fresh stock at the moment
means buyers would certainly like
a little more choice. Normally this
would point to a sellers' market.
But, while active, buyers are cautious
and are not rushing to buy. They
are taking their time before making
offers, they are fully investigating the
market and are steering away from
any property that smacks of being
overpriced. Sellers ask - well why
don't they make an offer? but often
they just look on the web and don't
even view.
All this has produced a market with
actual sale prices generally neither
going up nor down - although there
are exceptions from village to village
and between market sectors. Which
way the pendulum will swing towards rising or falling prices - only
the next few months will tell.
We should be able to tell you
much more by the time we are into
'Autumnwatch'. Sellers should
still beware of being a little too
optimistic with price. Buyers are not
in the mood, and we should always
remember that property is only worth
what someone will pay for it.
WOODLAND - FARMLAND - EQUESTRIAN
Creasey Biles & King
TEL: 01983 527744
28
www.vis itislandlife.com
www.creasey-biles-king.co.uk