Market Brief: Pricing correctly remains the key to success in an uncertain market
The Brexit clarity that I had hoped for last month unfortunately hasn’t happened, however at least the immediate pressure of ‘will we, wont we’ has been delayed in the short term!
With the negotiations rumbling on, people are coming to terms with the fact that Brexit isn’t going to go away – we’re going to be talking about it and dealing with its effects for years to come, whether we leave the EU with a deal in the Autumn or not.
As Martin Lewis commented recently, if you’re thinking of buying or selling a property, you just need to go for it! The price you pay, or receive, is all relative and will work itself out in the longer term.
There is no denying that it’s a very difficult market at the moment, with a shortage of houses on the market and, those that are on the market, are often priced too highly and are therefore not selling. We’re fortunate that the property market here in York is relatively resilient and, of course, we have witnessed these challenges before during times of national instability such as the recession and the War on Iraq.
Whilst some agents are choosing to overvalue properties to get them on the market, the properties then don’t sell (unless drastically reduced) and it starts to create a downward spiral of a limited market with very little turnover. Here at Hudson Moody, we’re committed to continuing to provide good, honest advice to our sellers and buyers and know that pricing correctly, will deliver a better result in the end.
Looking ahead, we have several exciting new developments set to launch in the coming weeks and months. Rowntree House, a development of eight apartments, and the Convent, a unique development of 9, one and two bedroomed apartments along with a two bedroomed house and four new build houses, are both located on sites of historical interest for York and will offer buyers the opportunity to purchase a truly unique property!
It was a pleasure to attend the Hudson Quarter ground breaking ceremony earlier this month conducted by Archbishop John Sentamu who was as entertaining as ever! We are very much looking forward to this exclusive development launching later in the year and please do contact us if you would like to register your interest.
I wish you all a very Happy Easter and fingers crossed for some lovely Spring sunshine!