As we have previously commented, the market is booming now with prices rising and a lack of available stock.
Virtually everything worth buying is being snapped up within a week and is going for more than the asking price.
It means that the vast majority of houses we review simply won’t work as figures don’t stack up. The result is a shortage of product.
Fortunately, we can still occasionally identify value coming on the market. Unfortunately, it is not enough to keep up with demand.
When we tell people the situation, we get a mixed reaction.
Some no doubt think it is a sales ploy designed to create a sense of urgency and FOMO (fear of missing out).
After over twenty-five years of doing this, we have learned not to buy at over-inflated prices – the market will return to normal in time. This is especially the case in the coming months.
The good news is that the sudden surge in demand and house price rises over August and September is unlikely to continue as we head into winter.
Until then, we are only buying and offering properties when we see value for everyone involved. It is how we have built long-term business relationships with our clients.
Patience is a virtue, especially at frustrating times like this, so please bear with us in the short term. It will pay off in the long term.