Market Comment from David Edwards, Managing Director:- Since my last article clients have been asking how it is all going since the aftermath of the election. Unfortunately I cannot report that there has been a surge in recent activity, probably as we enter into the summer holiday phase.
The market is holding back for now as vendors decide not to sell and sit tight until the mist clears. However, in the serious need to move, buyers are still out there and when the right property comes up at the ‘right price’ they are being grabbed pretty quickly.
The rental market however is completely active, with a distinct shortage of property on the books, as a result any new two or three bedroom homes are being snapped up at good rental levels. Houses are being let within a matter of days. Landlords are being put off by new regulations, therefore, we are seeing some landlords switching to use our management services giving them peace of mind. Others decide to sell. This therefore leads to some shortage in the rental sector.