Renewed interest in the property market
Shirley wondered if the dark
clouds were finally clearing
and the housing market was
showing signs of picking up?
The first two weeks of the New Year has seen a considerable increase in activity in the Ipswich housing market, Ipswich estate agent Jonathan Waters is happy to report.
“After just two weeks of the New Year we have seen a 50% increase in the number of sales agreed and at least that level of increase in the number of fresh buyers registering on our books.
“It’s great to see first time buyers are amongst the profile of these new applicants which also includes property investors and developers who have been sitting on the fence for a number of months in 2008, deciding that NOW is the time to buy.”
Two definitely interesting signs that Jonathan has seen since Christmas happened this week. “We had two buyers fighting over a two bedroom end terrace property at £114,995 that eventually went at the asking price. We haven’t seen that level of activity for many, many months. We also saw competition between buyers over a three bed modern semi detached house which sold quickly and another property where we achieved two viewings and a sale before we’d even typed the details! This sort of thing is all reminiscent of the market we saw between 2001 and the late summer of 2007 and is definitely a sign that a number of people are now considering we are either at or very near the bottom.
“A third profile of buyer has suddenly appeared in the market as a result of general economic activity over the last few months. The considerable drop in interest rates has meant that those people who have cash invested in banks or building societies have decided that buying a property could yield a much better long term return. With a reduction in interest rates they are now getting next to nothing on the sums invested and are naturally very hesitant with regard to the stock market. Bricks and mortar is the safest and potentially best of the three options.”
Jonathan went on to comment that this is excellent news for estate agents and that for the first time a new profile of buyer is appearing on the market which is all adding to the general increase in activity.
Enquiries to our own website increased by 30.85% and those via Rightmove and other property portals have also increased considerably.
“All in all I think it’s great news for the housing market” commented Jonathan.
For enquiries for properties to buy in Ipswich, east Ipswich, Martlesham Heath, Grange Farm, Kesgrave, Bixley Farm areas and more then contact Ipswich estate agent Jonathan Waters Estate Agents.
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