31st August 2012 back to news

GS Residential Review for August 2012

The end of August and the return to school have strangely seen a dip in Home Report instructions in what has been an extremely busy period over the last 3-4 months. The last few years have seen a slight slow-down during the school holidays but this was not the case in the summer of 2012.
A lot of good quality stock has come on with many properties, which are in desireable locations and have been sensibly priced, attracting interest and selling at or around Home Report valuation. We have even heard from agents about 1 or 2 closing dates! Unfortunately if your house is located in an area of oversupply the news has not been as good with some prospective purchasers negotiating very good deals. We will have to wait and see how the market fairs in the autumn.
Graeme Miller, Associate, Kilmarnock

It has been a fairly quiet summer, almost certainly caused by buyers deciding to holiday in the sun
rather than buying houses due to the depressing weather. In addition the saturated coverage of
the Olympics has had buyers stay at home resulting in a delay in buyers emerging from the
summer slumbers. The traditional good suburban location remain in demand but we are seeing
increasing stock in lower value locations, and the imbalance of demand / supply driving prices
lower still. despite falling prices in these locations, first time buyers still find entry to the market difficult or not possible due to the deposit levels still required.
Craig Henderson, Partner, Glasgow

After the traditional lull activity in the residential market has increased with a slight increase in Home Report instructions and Replacement Home Reports, indicating properties are selling albeit at a slower pace than most would prefer.  As always well presented properties continue to fare better in the market place which continues to be very selective in its requirements.
Darroch Robertson, Associate, Aberdeen