MARKET COMMENT FROM MYLES TYDEMAN, MANAGING DIRECTOR

I am pleased to say that the market seems to be finally heading in the right direction. We have had a good 2 to 3 months of sales, and with a more optimistic media and more flexible banks and building societies, we certainly seem to have turned a corner.

However, what we are currently seeing is a lack of new instructions coming to the market place. This is due to numerous reasons; house prices have fallen over the last 2 years and some people are not willing, or able to sell at a lower figure than they would have achieved several years ago. We speak to lots of prospective clients who are, in our opinion, prematurely thinking about the festive season. These people have taken the decision not to market their property until the Spring.

In my opinion this is a potentially dangerous option to delay marketing until the New Year. The market is improving at the moment with the current lack of supply. The Spring is a seasonally a better time to sell, but be aware that with more properties on the market, the competition may result in it being harder to sell. With the General Election approaching in 2010, this may cause some uncertainty in the market early next year.

I feel that if you are considering a move within the next 12 months now is the best time to act. You also should not be put off by your current property value, as although your property may have fallen in value, so will have any onward purchase. If you are going upmarket, the value of this property will have reduced substantially more than your own. If you would like to discuss this topic in further detail with me, I look forward to hearing from you.