MARKET UPDATE JANUARY 2009

January has been much busier (by previous January figures it is still very low) but at least there has been a significant increase in all areas – valuations, instructions, mailing list applicants registering, viewings and dare I write it…. Offers and some sales too. Mostly these are on properties where sellers have adjusted their asking prices and been open to offers. We haven’t experienced any mortgage application refusals, I think the bigger problem has always been people not even applying as they are too cautious in case they try and get refused. Still no interest in HIPs, the searches are usually out of date and have to be re-applied for, which seems a real waste of time and money. Vendors really don’t like paying for something perceived by them as useless. They are however being completed promptly –usually in under a week for freehold, so I don’t think there will be too long a delay in April for marketing new properties, although it will test our patience I am sure!