I predict that we will see a bounce in property prices over the next six months.
Call me mad, and I might be wrong.
However i think I will probably be right.
The property market over the passed 12 months has been made up of sellers that would mainly fit under the titles of either 'damned' or 'desperate'.
The 'damned' have been forced to sell due to facing repossession or changes in circumstance and the 'desperate' have wanted to move NOW for whatever reason, relocation, excitement or need for change.
These 'damned' and 'desperates' have been ready to settle at any price.
However as the property market starts to move again we will start to see resistance by the more 'settled sellers' to sell at any price. With a shortage of supply we could see a bounce in average selling prices.
This is not to say that property prices will start to whiz up again. I would not be surprised by further falls over the next couple of years.
But we could easily see a summer bounce in property values.
I only heard the other day of one property investor who bought a property last year for £360k only to sell it this month for £410k without any refurbishment work.
So let's see.
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I Share the same view. We have just completed on a property for 300K and have a seller wishing to purchase for 360K. With no refurbishment. I have also noticed there are more sold boards going up with very few new properties coming on the market. This surely must encourage better asking prices
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