The company that represents exclusively buyers (unlike other housing market commentators who represent sellers or lenders) is convinced that the UK market is showing signs of recovery, with a distinct upturn since the conclusion of hostilities in the Gulf.
In prosperous towns such as Winchester and Oxford, and in counties such as Buckinghamshire and Hertfordshire, the property market is showing signs of returning to life.
Says Jonathan Haward: “It’s in these areas where our home buyers have put together a significant number of seven-figure purchases for clients in the last four weeks.
“Some commentators have been playing down the market, disappointed that there hasn’t been an instant post-war reaction. Such comments are naive and unsubstantiated.
“Less than four weeks ago we were celebrating not only Easter, but also the end of hostilities. The troops may still be coming home, but since that time, properties in all parts of the country which are sensibly priced and well presented are selling readily at their asking price.”
The County Homesearch Company estimates that country house prices have reduced by 10-15% since last year in most parts of the country. Whilst the bargain hunters have returned to the market, they are not likely to achieve any great steals, says Jonathan Haward.
He comments: “We heard of two ‘bottom-fishers’ who were submitting preposterously low offers on a number of properties in the Oxford region. Needless to say, they went away disappointed. With the advent of spring, the market is once again active. It won’t burst into flower until the shoots have had a chance to grow, but that’s certainly beginning to happen now.
“We have a recovering market that is slowly but surely returning. We concur with the Royal Institution of Chartered Surveyors’ prediction that house prices will rise by 10% this year.”
