The final scenes of the Summer are being played out as the nights are drawing in and the last few Schools in St Albans appear to reluctantly open their gates to their pupils, much to the widespread relief of the Mums. The Summer housing market, in contrast to the wet climate, has seen a significant drought of properties entering the market as potential Vendors delay their decision to move.
The shortage of properties is only matched by the shortage of Australians I have encountered to sympathise with their Ashes performance! Aitchisons group of local offices have all seen an increase in buyer activity as confidence and the need to buy grow. Have the green shoots got roots? We are approaching the second anniversary of the demise of Northern Rock and the last two years has seen as difficult market place as I can remember in twelve years in St Albans but now we are experiencing very different conditions with market forces changing the dynamic of the marketplace.
The pronounced lack of supply of properties and the pent up demand have lead to too many buyers chasing too few properties, which can only lead to one conclusion on prices. With the Autumn market drawing ever closer, there is a window for sellers to take advantage of these favourable conditions especially those moving up the property ladder. Aitchisons are all too familiar with the response from would be sellers ‘I would love to move but haven’t seen anything to buy.’ However, this only leads to a hiatus between sellers and buyers and the log jam continues.