Should we all believe the media??

If we believed all that we are told on a daily basis then no one would be interested in buying/selling or having a valuation…..here at Jonathan Waters we are still busy and ‘ticking over’/selling in a difficult market. I have done some research with reports from our financial team, The National Association of Estate Agents and the general public to bring you an honest view of what’s going on locally with how the national view may or may not be affecting us here in Ipswich

In 1990 – 1992 house prices went down drastically and interest rates went up from 8% to 16% in 6 months….."oh it’s happened  before!!."  Yes, there was high unemployment and high inflation so interest rates were increased to control inflation….most people in the industry seem to think it is different this time as there are still customers who want to move and have to move where as in the 1990’s the market just stopped…Jonathan Waters was established as a company during this period so has experienced at first hand this kind of market uncertainty,  and still retains some of the staff who were employed! so you can be assured of relevant advise from previous experiences...

The media have confusing information – The Halifax reported this week that house prices were down 2.5% and in the same week The Nationwide reported increases in some parts of London, The South East and other pockets of activity around the country with local influences, possible a new shopping centre, large company coming to the area, local development and definitely the Olympics 2012

The lending market is having a massive effect on the housing market with the first time buyers most affected directly affecting the whole market…..Mortgage approvals hit a record low after banks tightened lending and were reported to have slumped to an all time low in August 08 at 21,086 which was the lowest levels since 1997. Here at Jonathan Waters we are happy to put you in contact with our independent mortgage advising team who will be pleased to advise you with re-mortgaging, current mortgage deals and budgeting advise – don’t assume that you cannot get a mortgage, let the professionals check it out on your behalf

There have been some closures in the Estate Agency business….we have definitely made changes with our mailing list and housing list, concentrating on the customers that are determined to buy and sell – In the current uncertain market you need to choose and agent that is established and has experienced this kind of change in the past and are able to advise and give high levels of customer service and most importantly communicate and talk to you.....

Back to property news articles