So, Nationwide’s December forecast has the year ending on a flat reading (or + 0.4% if you want to be really picky 🙂 ). Pundits have already thrown hats in rings for drops between 5% and 10% overall in 2011, citing lack of demand vs supply and restricted mortgage lending.
I can’t offer solutions or advice on the bank lending criteria, other than to rejoice in the number of cash purchasers looking over the last month or two. However, over the Christmas break I’ve had a good look through the properties currently available in our area and there’s precious little quality around. Although us agents would love to say we have lots of new properties about to come on, the truth is that only a few homes will be launched over the next month or so and this will mean the traditionally high demand of January will remain unsatisfied. Will this lift prices/activity a little?
Let’s hope new vendors keep their prices keen by accurate comparisons with sold properties and listening to advice.
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