Contact Antony Brassey
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Market update March 2009
2009 offers a rare opportunity for well-placed buyers to purchase properties at significantly lower values than in previous years.
The Nationwide Building Society recently reported that house prices fell 1.8% in February, taking the annual decline in prices to 17.6%.
However, in an area like The Cotswolds, for instance, the scarcity of quality properties for sale in all price ranges still has an impact on demand and price.
As the Spring market approaches there are signs of increased market activity, with estate agents taking on new instructions; this will help break the deadlock caused by lack of supply.
This market wants watching closely and it is undoubtedly a time when buyers have a very disctinct advantage for the first time since 1996.