Miss G London
When Nigel left the project we felt a bit lost actually.
Justin Ryan and Colin McAllister on the BBC’s ‘The Million Pound Property Experiment’.
News and views about the property market
Check in here regularly for updates and our view of how the property market is changing
Good News, Bad News
14th August 2009 - 09:25
Mixed messages are emanating from the property market at the moment. Mortgage lending is up, but that is still an improvement from a low base. More mortgages are available, but only if you have a reasonable deposit, say 25% and can afford the arrangement fees (some are around £1000). Property prices may be stabilising, but only in some locations. Estate agents say there are more buyers looking around, but there is a lack of good property on the marekt.
If you are thinking of selling, it is still essential to ensure your property is presented at its best. This is still a buyer's market and you cannot allow any room for negotiation in terms of price. Having said that, pricing your property realistically will get potential buyers through the door - the more viewings you have, the more likely you are to sell.
If you are staying put and have the extra cash - maybe you have a tracker mortgage and are benefitting from low interest rates - now is the time to improve your home with one eye on the fact that you might sell in the next five years or so. Update kitchens and bathrooms. Make sure that your heating system and electrics are in good working order.
