Market Comment
Many of us will remember childhood comics with little green men warning earthlings that “resistance is futile”. It felt awful to be so helpless.
Yet in Glasgow at COP26, that is just what the scientists are saying. They warn that resisting change will only bring global catastrophe. The boffins say that the future is in our hands, but that we must act now.
In a way, selling property is the same. At Howard we have experienced an almost unnatural market for the past eighteen months. But things are slowly changing.
The lettings market continues to be as strong as ever in Bristol, however in sales it’s not as gung-ho as it was. Multiple full-price bids on properties aren’t as common as they were. Buyers are more relaxed and feel they have more time. And over-priced houses and flats are not receiving quite the high-level interest that they might once have had, especially with the threat of higher mortgage interest rates looming.
For sellers, resisting this turn of events is futile. Keeping a property on the market in the hope someone will pay a premium, in all but premium locations, is fraught with risk and potential delays. And just like resisting little green men or global warming, resisting or ignoring market conditions, when selling a property is storing up trouble!
With little green men, the laying down of arms is sensible. With global warming, rushing out of fossil fuels and into renewables is sensible. And with property, choosing the right agent and setting a sensible asking price from the outset, whatever the market, will always mean a faster and easier sale.
In any event, the experienced sales and lettings teams at Howard will always be on hand to provide sensible, accurate and expert property advice, just give us a call!
