The general vibe coming from buyers and sellers this spring is definitely that of confidence. This isn’t reckless confidence; it’s a returning confidence that has finally won through after years of reconciliation.
The recent media reports of a property boom; increase in prices and the general property hype aren’t motivating factors for our customers in West Yorkshire. Motivations are driven by increased job security, confidence in having saved a big enough deposit and the knowledge of securing a good mortgage deal.
Affordability is the confidence and we are selling one property a day due to this factor. Our customers know they are paying the right price. The vast range of property we have is fairly priced and I feel it necessary to point out talk of a property bubble is just that; talk.
A confident market has come with a re-education and understanding that bubbles and inflated prices are an unrealistic expectation. Asking prices over the odds based on simply being in a good area donâ€™t cut the mustard. Properties have to be decorated to a high standard with quality fixtures and fittings within good school catchment areas, offering good quality family accommodation they really have to be worth it.
The feedback we hear from our customers is they are looking to buy but only when they are sure they understand current market conditions, climate and trends. The confidence is definitely out there and with it is a much more market education and savvy customer. Our figures certainly illustrate that with a 35% increase in sales this month.