Increase in sales numbers

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Labour had promised an annual mansion tax for all properties over £2 million, unsurprisingly this had a major effect on the London market which slowed considerably and this was rippling out to other parts of the country.

A steady level of sales had been agreed during the early part of the year but the time taken to exchange contracts was increasing, the pipeline of sales has been steadily growing.

There has been a shortage of solicitors and surveyor/valuers to do the work.

Mortgage companies were also understaffed so the whole process was being slowed down.

Companies were reluctant to employ additional staff until there was a more certain picture.

This has all been evidenced by published results from Countrywide, Foxtons and Savills.

Generally revenues for estate agents in the first half of the year have been down.

Since the election the pipeline has started to speed up and we are at last beginning to see contracts exchanging for higher numbers of sales.

We have also had a budget generally in favour of home ownership which has helped further.

Phillip Bishop, Managing Director of local agents Perry Bishop and Chambers said.”After a slightly frustrating time for home owners we are at last seeing the whole buying process begin to speed up and the time taken between arranging a sale and actually moving is beginning to reduce. There is good demand for property that is priced correctly and we are finding that the service given by professional agents is helping vendors to maximise the price achieved for their home.”

“In the autumn we normally sell more homes than at any other time of year. Our advice to anyone thinking of selling is to ask for valuation advice as early as possible from an agent who will advise what minor works to your property might result in an easier and better sale.”