Musings of a London Property Finder

Property sales in London and the South East were at a record low in October according the Royal Institute of Chartered Surveyors (RICS) but confidence has continued to improve and sales expectations are now at the highest level since March 2007. 

Those in a position to buy, particularly seasoned investors know that although the market overall has still got some way to drop, it is possible to pick up some superb bargains at the moment because most people can’t get the credit required to invest further.  Measures implemented by the government mean that the credit tightening experienced currently may change next year and as confidence grows, competition for the plethora of property bargains around at the moment will increase.

The RICS attribute depressing house prices to the increasing number of properties on estate agent’s books relative to the number of buyers in a position to move rather than a high number of distressed sales which characterised pricing in the early 90s.  While there is no need for most people to sell, many won’t do so, which is why this is a good time to buy, because there is no competition and since prices are still falling, an excellent deal, in excess of future price falls can be negotiated.  Buy now if you can is the advice of this London Property Finder

Technorati Tags: Confidence in the housing market, distressed sales, Distressed selling, House Prices, London House Prices, London Property Finder, London property market, london property market news

Tags: Confidence in the housing market, distressed sales, Distressed selling, House Prices, London House Prices, London Property Finder, London property market, london property market news