Tricky times in the market ….

10.08.2019

We’re still selling flats and houses and at pretty good prices, but unfortunately its currently in the face of a difficult and nervous market. Market confidence  and activity go up and down very much with the tide of the political crisis. When it looked like we might leave the EU in March, our sales activity was slower in the run up.  When we didn’t in the event leave, sales were then pretty strong in April, May and June. When the PM leadership contest got under way and talk of a No Deal Brexit resurfaced in July , activity started to get more difficult again.  Whilst our area tends to hold up better than most,  it can’t be immune from prevailing trends. The fact is that when we look at the actual Land Registry records for Kingston and Richmond, the average sale price in both Boroughs is now down nearly 6% from last September, and this data is based on all the actual completed sales in the area. What we do notice is there is a lot of pent up demand from people who have put off moving and any break in the clouds soon turns into an upturn in our figures. Despite everything the latest statistics for Mervyn Smith on Rightmove show that from July 2018 to July 2019 we very significantly outsold every other estate agent right across postcode sectors TW10 7 and KT2 5, which includes the vast majority of Ham, Petersham and North Kingston. When the market is booming all agents might look good, but when the tide goes out only agents with experience, stickability  and a good database of real buyers can can get the job done.