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Wednesday, 3 October 2012

Cowley Groves Property Market Report October 2012

The return of sold boards in gardens across the Island was a welcomed sign for us all during the summer months. There is no doubt that all agents experienced an uplift during these months and a significant number of sales were affected compared to previous months. It is a very welcomed sign and that confidence is slowing returning and buyers realise that if they have to move, this is an excellent time to be searching and securing their new home. A number of factors help this in that interest rates are at their lowest level for decades, there is a wide variety of stock on the market and vendors are prepared to negotiate as it is a buyer’s market. These three components assist the purchaser making it an excellent time to purchase.

One thing that is worth remembering if you are trading upwards or downwards it is not what you are getting for your house that matters, it is what the overall deal works out at. This is a very important point and worth noting because in the vast majority of cases the objective is to move at an affordable level as buyers and sellers are willing to negotiate and the market is delivering some excellent opportunities.

David M Creane
Chairman - Cowley Groves