Love sales? Buyers are set to make huge savings in the post Christmas property market

Property Finder, the estate agent property portal predicts 2009 will be the year of the bargain-hunter. According to The Times Newspaper 29/12/08. It predicted that "the market would be dominated by bargain- hunters, including professional buy-to-let investors and first-time-buyers".

In light of Rightmove.co.uk culling a fifth of its workforce, cynics will argue Property Finder are simply trying to rally the troops. With the average estate agent appearing on 4 portal websites, many agents are cutting back as demand for property is falling and margins are getting tighter.

A straw poll of our estate agents agree there is still demand for upmarket properties in desirable areas with good amenities and schools. Although the rental market will stutter in the New Year as 'accidental landlords' flood the market with properties to rent that we're previously up for sale (this influx of new properties having an adverse affect on rental yields as supply outweighs demand).

posted by The Editor

Your Comments

The Editor said...: As the mortgage hangover is set to continue, we have to accept house prices are still falling but the market will turn. The big question is how and when?; 5 January 2009 12:12
Dillon Callum said...: Mortgage rationing gets tougher as lenders continue to demand larger deposits as they ration home loans to their customers.; 5 January 2009 16:07
estate agent marketeer said...: Every estate agency has its own site but you can see them aggregated at portals such as Right Move, Prime Location, Pet Friendly Rentals and Globrix.; 5 January 2009 22:41
wrong move said...: Another good post!

According to Rightmove.co.uk the self proclaimed "number one property website" it's estate agency membership has dropped 15% in the last year. With 3 out of 4 estate agents either going bust or being removed for non-payment.; 5 January 2009 23:22
jarvis keller stephens said...: Business never stands still.
There are thousands of businesses hoping to get bigger premises, move to smaller premises, open new branches, or just start up from scratch.; 9 January 2009 16:53
local estate agent said...: Only 43,000 new homes coming to market this month; that's half the levels seen this time last year!

Latest figures published by Rightmove property website shows the number of homes coming to market is down more than 50% as sellers play a waiting game.

"The speed with which prices have declined has been worrying, but it does mean we are potentially reaching the bottom sooner" says Miles Shipside - Commercial Director for Rightmove.co.uk; 21 January 2009 20:35
hot property said...: So you want to sell your property in chilly February eh?

First things first, know your market!

Do your homework and price your home competitively.

Make sure your home appeals to the widest possible market.

Give your home a small makeover; ensuring it's well presented/ staged with a high curb appeal.

Take fresh photographs and make sure your agent gives it a good write up.

After that it's all down to marketing; 13 February 2009 21:04
plight of the downsizers said...: Now is the time to buy as record numbers of middle-class homeowners try desperately to downsize as high earners face losing their jobs and their homes - Daily Mail 14/04/09; 14 April 2009 20:54