We have seen increased activity in recent weeks which continues to see buyers who are keen to move before Christmas endeavour to save up to £1750 in stamp duty. (Money better spent on Christmas presents!!!)
Despite the current speculations and uncertainties we hear about the property market, buyers and sellers continue to prove that the need for property remains inelastic.
We are not out of the woods in terms of the current economic climate and even though no one knows what 2010 will bring, yet there is a sense of optimism for the future for the following reasons; the Bank of England Rate remains low (for the time being), combined with more responsible lending from the banks, current homeowners are seizing the opportunity to upsize as the cost of borrowing remains low and the differential between house prices have narrowed, thereby making it a prudent move. With these factors i believe that property transactions will continue to move at a steady pace.
Barry Lee, Senior Manager, Taylors Letchworth