10
Jun
Is the market changing?
We have found a lot more serious and financially able buyers are
looking at the moment. The same goes for rentals. The
short supply is in 1 and 2 bedroom flats available for these
groups.
Traditionally, 1 bedroom flats were the bread and butter of the
property market locally, as first time buyers would buy, live in
them for 2-4 years on average, then move on. New first time
buyers would then buy these.
Prices generally rose, but usually in line with inflation or a
bit over.
Suddenly, the buy to let mortgage appeared and competition for
small flats became fierce. Many ended up being bought by
first time investors and...they do not come back on the market.
So, less flats available, prices stay higher...
If you are thinking of selling or renting out such an animal as
a 1 or 2 bedroom flat, please call. I am sure we can
help. 01273 677365