Sunday, 1 May 2011

Sunday, 1 May 2011

Market update - 1st May

As we enter May , I thought that it would be useful to have a look at how the market has progressed since the start of the year. Certainly, there is a bit more activity at the higher price ranges, especially 250-400k, but in reality, the market is still sluggish. The weak £ is not helping UK buyers into the French market, although the strong Australian $ has resulted in a noticeable increase in enquiries from down under. For me, this is still a buyers’ market, with plenty of choice out there, and a considerable number of properties very negotiable. This does beg the question why so many vendors insist on putting their houses on to the market at inflated prices, even for a few weeks to “test the market”. They insist that you can always come down in price and not go the other way, agreed, but you are probably going to miss maximising the impact of your property when it is fresh to the market. I have just seen one property come down from near 700,000 Euros, (with another agent), to 550,000 within one month of coming to the market. For me, it is still overpriced at this figure, but the owners have spent more than that renovating the complex. Pricing property doesn’t work like that. A house is worth what it is worth, not what it owes you ! Bon weekend.
Filed Under:

0 comments:

Post a Comment