As property is one of the key elements of BS8 we thought it should be our first article on the new site.   And who better to turn to than This e-mail address is being protected from spambots. You need JavaScript enabled to view it at Hydes in Clifton.  Over to you Ed (that's Edmund, not the editor, sorry Ed..Ughh..!  Edmund,

Market overview – July 2010

With our new government in place making decisive plans to regain market confidence, Bristol residential property market place in the middle to upper sectors is now showing healthy signs of steady continuing recovery.

Prospective buyers and sellers alike that have postponed important decisions and plans during the last three years of uncertainty are now deciding to press ahead whether this involves upsizing to larger accommodation, downsizing to smaller or choosing the property market as a more robust safe haven for hard earned savings and investments.

It would have impossible to predict with any accuracy during the uncertainty of 2008 year where the market would stand currently. The real surprise to all of us is that we continue to confront a shortage of good quality housing stock in our market sector. The media coverage during the downturn would have had us all believe the during the last few months a dearth of property would be available for the foreseeable future. In contrast, the shortage that we now experience in certain geographical areas has resulted in competition from buyers on a number of recent cases. In a number of recent cases, higher prices have been achieved for certain types of property than comparable types of property during the markets peak in early 2007.

Based on a sensible market asking price we are now observing significantly fuller prices being achieved when compared to last year when more of a discount might have been achievable. This is where we identify the recently reported uplift in prices (ie: a fuller price being achieved rather than having to allow for heavy discounts).

This unforeseen trend proves concerning for those that elected to exit the property market completely owing to their uncertainty of the widely predicted freefall in values. Perhaps this type of buyer is not experiencing the advantages that they foresaw with limited choice available coupled with the threat of competition for any desirable prospect that arises.

Our principal advice to buyers searching in our locality is that you should be ready to act quickly and maybe even competitively, as soon as any suitable property arises. It is also important to ensure that up to date financial arrangements are well placed in what is now reverting back to a more diverse, competitive, mortgage market.

The experienced and long established team at Hydes Of Bristol are on hand to offer tailored advice to you based on your individual circumstances and requirements.

We look forward to assisting you whether buying or selling within our area.