Winter 2010

It is difficult to give an exact picture that fits the whole of the Sussex and Kent property market. The press and all the official indicies  report a very general countrywide picture that covers all price levels from one bed-roomed flats upwards, which obviously cannot reflect what is really happening in specific areas or at particular price levels.

The prominent estate agents have been reporting steady activity, showing that there are  focused purchasers still looking for the right home or business opportunity.  There are many properties that have been on the market for a while, these are often over priced with the vendor holding on to unrealistic expectations or they are a poor comparison to their competitors. Recently the balance has changed between supply and demand with the buyer being in a stronger position. Vendors now seem to be coming to the market with realistic asking prices instead of the bullish prices seen earlier in the year, the “best of type properties” are holding their value and will always continue to be in demand. Recently in Tunbridge Wells a period house with quarter of an acre of land requiring substantial renovation works attracted 100 viewings in  a three week period, achieving a 30% increase in asking price. This shows that there are still plenty of cash buyers looking for the right property in the right location!

With the Christmas Holiday period and snowy weather conditions I think we shall have to wait a little while before seeing a reasonable amount of new stock arrive on the market.