MARKET UPDATE FEBRUARY 2010

Again things inching forward, prices remain static, and there are some first time buyers and investors starting to view properties thus helping improve the interest and ultimately sales at the bottom end of the market. Still very slow progress, but better than last year.

MARKET UPDATE JANUARY 2010

Thankfully things picked up fairly quickly after the Christmas lull, with new instructions, viewings and sales all on the up.

BUDGET 2010 UPDATE

Good news!
From the Chancellor's Budget announced today there will be a two year stamp duty land tax relief for first time buyer's for residential property purchases up to £250,000. To pay for this there is an introduction of an additional 5% rate of stamp duty land tax for residential property over £1,000,000 from 2011-2012. There has been an extension of the freeze in the inheritance tax allowance of £325,000 until 2014 - 2015.

Happy New Year

Cobb Property are celebrating the New Year with a re-vamp to our office premises. We are also currently working on re-designing our website and adding numerous new features, adding a new range of designs for our property brochures and are investing heavily in advertising in our local paper which still delivers plenty of leads on the properties advertised there. We wish all our clients a Happy New Year and a successful, prosperous and healthy 2010.

MARKET UPDATE DECEMBER 2009

December was an excellent month for sales completing. Lots of sales would have been adversely affected by delaying completion until January as the Stamp Duty exemption up to £175,000 dropped back down to £125,000. Also with the VAT increasing and wanting to spend the festive period in their new property, it spurred clients on to get moving before Christmas. Viewings and valuations were consistent with December traditionally being the quietest month as people are spending time and effort with family.

MARKET FORECAST - SPRING 2010

Well the weather is stopping people from making unecessary journeys and keeping children off school and parents off work, so viewing numbers are lower than expected and we have been re-arranging some appointments to help accommodate. There are quite a lot of people lined up ready to go onto the market this month and are just in the process of doing all the "tidying up" jobs, organising HIPs and taking down Christmas decorations. Also properties that have been on the market for a little while now are likely to drop their price to compete with the fresh stock.