SALES MARKET UPDATE

At the beginning of 2009 dire predictions for property were everywhere in the media, anything from a 20% to 50% drop in values!

 
Well it just goes to show that you can’t believe all that you read in the papers or on the T.V., because locally we have seen at  least a 10% increase!

 
There have been several reasons for this, the low interest rates have been a key factor, but one thing that commentators miss is that we all want to own our own homes, its part of our national psyche, and areas such as Putney will always be popular places to live, and there really are just not enough homes for all the people who would like to live here. 
 

We are delighted to report that our sales team has had a very successful year, arranging the sale of 50% more property than we did last year!

 
We have found that although we have been through a recession faith in property has, if anything, increased, it seems that people are happier to have their money and investment in property that in the banks!

 
So what can 2010 hold for property? Again there are wild predictions, especially of a ‘double dip recession’ mainly I feel, by those that cannot admit that they got 2009 so wrong. With supply likely to remain limited and demand bound to continue our view is that values will show an increase but general financial restrictions are likely to keep rises restrained, so a more sane and stable period is emerging.


So owning property has again been shown to be a safe long term investment, but perhaps we should all remember that a property is a home first and an investment second, it is a long term investment, not a ‘get rich quick’ one, the principal that gradually a mortgage is repaid during the working life of property ownership should be remembered, the goal of owning property is that at some stage you are living in a home mortgage free and therefore benefit from the financial stability and freedom that will create for you.


We have been in Putney since 1983, so we have seen every sort of market come and go, and more that one recession!, so we believe we are better placed that our competitors to guide you through whatever the future may throw at us and give you the right property advice whether you are selling or buying.