|Agents With A View|
We speak to the experts about Chiswick’s current property market
The latest published figures on Chiswick property suggest that prices have started to come down slightly from the peaks seen at the end of last year. But what do the agents think?
Oliver Finn's Christian Harper said, “Land Registry figures are certainly the hard facts but we must consider that the data provided is based on past activity and not activity that is taking place here and now for example, a house put on the market last July might have been agreed in August, exchanged in October and completed in December therefore we must make considerations for typical and consistent seasonal peaks and troughs. It would not be fair or accurate to look at the latest published figures and base today's market on 4th Quarter 2007 results."
He continued "We have certainly found it to be a much tougher market than we have been used to in the last 10 years but good and fairly priced houses still sell.
"In 18 years of estate agency I hear that the market is going to tumble next year without fail every year. Yes I have seen blips but on a medium term investment my moneys with bricks and mortar."
Christopher Simon, Sales Manager at Faron Sutaria said, "Despite a "quieter" property market, within the last two weeks Faron Sutaria has achieved record prices on two separate properties. So far this month we have exchanged and completed on a two bedroom flat in St. Catherine's Court, Bedford Road W4 well in excess of any other similar property within the same building. The property had two offers at asking price in four days of marketing, eventually selling in excess of asking price. A new record!
"Our second achievement has been on a property close to the High Road, which generated over twenty viewings in one week resulting in several asking price offers. The property was finally agreed at a price well in excess of asking price, again setting an all time record for the street."
He continued "Fewer viewings usually mean fewer offers, not in this market. We are experiencing a lot less buyer registrations this year but are getting a lot more from them. Over the last three months it has taken a lot less viewings to achieve a lot more results and it is simply a case of people who are nervous about the market are not registering and people who are registering want to secure a property quickly with finance arranged and a solicitor in-place. It is a classic case of quality not quantity!"
March 20, 2008