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An improving housing market locally
Tim Salter, Vickery & Co, Lightwater, updates his predictions on the housing market. Here’s Tim’s report:
“Hopefully most of you will have read my views at the beginning of last year on the prospects for 2009. The economy at the time was anything but rosy and unfortunately matters have not improved. Sadly the position continues to be worsened by the irresponsible reporting of the state of the housing market by the media, and the misleading interpretation of statistics.
Vickery & Company are experienced in selling property during recessions. Some of you may remember that we established our business in 1990 in the teeth of the last property recession. By comparison the situation today is worse in one aspect, banks and building societies reluctance to provide mortgages, and where in only some lenders are prepared to consider less than a 25% deposit (unlike 2009).
I am pleased to report that the fall in house prices as, I predicted last year, seems to have abated. In some cases prices actually improved in the summer compared to the beginning of the year. I believe in Lightwater this is mainly due to the severe, indeed chronic, shortage of property coming to the market. As we all know, if demand outstrips supply prices are likely to rise.
Pundits, you may remember, were predicting further falls in house prices in 2009. I said, at the time, I felt that these predictions were flawed, as in the main the fall in house prices had already taken place during 2008. Furthermore, I believe that the fall in house prices has been arrested by the significant interest rate cuts.
So where does this leave us? Rather like 2009 we still have plenty of buyers. Naturally, the market is price sensitive, and although I can report that the properties we are selling are attracting a great deal of interest, there is a lack of competitively priced homes currently available. Regrettably there is a tendency for some clients and agents to market their homes at prices in similar to the boom of 2007, resulting, not unexpectedly, in these properties not selling. Although of course, there are obviously exceptions where properties are of an unusual nature or are positioned in some of our more prestigious roads.
I believe these are still difficult times for everybody in business, not at least estate agents. At Vickery & Company our philosophy is simply that we will continue to work hard on behalf of our clients providing positive solutions to help achieve sales, no matter what the market conditions. I believe that this philosophy is borne out by out strong presence of sold boards in the village.
This is my fortieth year in estate agency and I believe this together with my unparalleled local knowledge is why I can help you move during 2010.”
e are still difficult times for everybody in business, not at least estate agents. At Vickery & Company our philosophy is simply that we will continue to work hard on behalf of our clients providing positive solutions to help achieve sales, no matter what the market conditions. I believe that this philosophy is borne out by out strong presence of sold boards in the village.
This is my fortieth year in estate agency and I believe this together with my unparalleled local knowledge is why I can help you move during 2010.”
Christmas Fair in the Square
Sat 12th December
After last year’s disappointment of being rained off, this year’s Christmas celebration was a welcome success. I know listing thanks can seem boring. Not to me though. In this season of goodwill, I think villagers should thank those whose efforts made the event a success.
This list of ‘worthies’ is not in any order of priority, they are: Tim Salter, co-chairman of the Lightwater Business Association, for planning, acquiring tombola prizes, and being the main organiser. Mike Duffy, proprietor of Duffy’s Budgens, the essential helper, problem solver, and provider of hot mince pies, chocolate, and so much more. Thanks to our two school choirs, Hammond Junior School, and Lightwater Village School, for their excellent singing. All Saints’ Church for their sound system and carol singers, and, of course, the boundless optimism of music maestro Chris Wiiliams, the Fair’s master of ceremonies And not forgetting Lightwater’s CIU Club for running the barbeque, and importantly, had it rained that’s where we’d all have decamped to. There were others, obviously. But these are the key people. Ooops, almost forgot, the proceeds of the tombola, barbeque, mulled wine, and barbeque are for Lightwater-based charity, Christopher’s Smile. For everyone involved in this Lightwater community event – take a bow. We drink to your health.
PS. In picture, man in beard, Mike Duffy, and one of his team.
Tim Dodds
See more photos of the Fair here
