Despite being in the middle of the holiday season, there is a surprisingly large amount of activity in the residential market reports Kelvin Francis.
Properties are still coming onto the market, albeit in lower numbers, but interest is being shown by Buyers, who are also in lower numbers, but with serious intent. As a result, there is steady flow of sales being agreed, encouraged no doubt by the easing of the mortgage market and the slight lowering of interest rates.
Transactions are taking longer to go through, partly because of increased requirements of Solicitors and other Conveyancers, but also shortages of staff during the holiday period. Another factor is the shortage of Surveyors, at a time when more buyers are requesting full private surveys and this is introducing further delays.
Activity in the Rental market remains steady, Tenants now have choice and offers are being accepted on some asking rentals. Landlords would like to increase rents to cover additional costs, but opportunities to do so are somewhat limited.
If you are looking to sell or buy property visit: www.kelvinfrancis.com
