This month has seen a continuation of the increased activity that we had experienced in January. More realistic expectations and some serious thinking from vendors has seen purchasers sensing better value for money and dipping back into the Local Market.
Bang! We’re off into 2016 at a breakneck pace which is a nice change from the generally slow market last year. Whilst some of this business is a catch up from December when the property market slows the underlying trend is a real pick-up in activity and deals being agreed.
Firstly, a big ‘thank you’ to those readers who’ve given feedback and comment on our monthly market updates over the last year. It’s rewarding to know that our efforts to provide an up to date and fair appraisal of market conditions are acknowledged by those who want to be in the know.
July has continued the ‘slow but steady’ progress of previous months, with the usual tail off in the last week as the summer holidays kick in and enjoying the weather, rather than buying property, is on the mind of most people.
We’ve seen a definite up-tick in offers in the Local Market this month. The fact that the States of Guernsey house price inflation figures turned negative in May might have had something to do with the sudden movement.
May has been a busy and successful month for our sales departments with a steady stream of sales and new instructions . Sales in Q1 at our office have been higher than 2014 – so we must be doing something right as the gov.gg housing statistics show a drop in the level of Local Market transactions to a record low, as well as a slight drop in values.
April has seen a definite uptick in viewings and general activity. Possibly caused by the better weather but probably more likely due to the raft of price reductions over the last couple of months which have sparked offers and in many cases led to agreed sales.
On the 27th March Martel Maides attended a seminar presented by Shelaine Green and Tony Yates from the Guernsey Disability Alliance which discussed the current developments affecting disability access in Guernsey.
The marketing of the former Slaughter House has been taken to the next stage following the invitation for all interested parties to submit firm bids to estate agents Martel Maides by the end of January.
One of the interesting features of the island’s unique two tier housing system lies in watching the respective fortunes of the Local and Open Markets and how the dynamics of both can be affected by their interaction