Welcome to the latest Thistleblower,
A couple of months ago it was proving quite difficult to pin down an accurate value when advising clients on the sale of their property. This was largely due to the very strong demand and lack of supply of fresh property coming to the market. There was always the feeling that as time passed the price would rise.
We have noticed that this has eased to a degree and in certain sectors values now need to be more accurate. I’m not suggesting values have fallen – far from it. In fact we continue to secure full asking prices in most cases where the asking price was pitched correctly in the first place.
Given we have seen up to 20% increases in property values over the last year it’s natural that values had to steady off at some point. This, by the way, not a result of more property being marketed; property supply remains an ongoing issue and unlikely to change in the short / medium term.
Demand is still high but more accuracy is needed on asking prices. We see current values and demand remaining the same for the remainder of this year.
We look forward to being of service,
Ed Mackenzie Smith
Managing Director
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