Page 4 - Home and More 2023

NIGEL PRICE
CHAIRMAN, GOADSBY RESIDENTIAL
With house prices having peaked in 2022, we entered this calendar year with a degree of trepidation. Our hope was inflation would drop and interest rates would peak, clearly there is still some way to go before this is achieved and until then we continue to experience downward pressure on house prices. This buyer uncertainty will continue until inflation is under control and the base rates have stabilised.
However, those property owners who are prepared to be realistic with the asking price they quote will see prospective buyers and a sale being agreed. They will also benefit from a good choice of property being available for their onward purchase, something we have not seen for several years!
The lettings market in terms of tenant demand remains frantic
with very strong demand but unfortunately linked to a reducing supply of property. The reduction in supply has been triggered by the increase in Buy to Let mortgage rates with many landlords deciding to sell as letting has simply become unviable. This reduction in supply has had the knock-on effect of increased rents.
The remainder of this year will be interesting, but the strong message is that correctly priced property is selling and with a choice not seen for many years – strangely, now could be a good time to move!
BRANCH NETWORK
Bridport
Commercial Residential
Salisbury
Verwood
Ferndown
Bournemouth Southbourne
Canford Cliffs
Winchester
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goadsby.com
Weymouth
Blandford Wimborne
Broadstone Poole
Wareham
Chandler’s Ford
East
Fordingbridge Southampton
Eastleigh
RESIDENTIAL