‘Permacrisis’ is the Collins Dictionary word of the year – meaning ‘an extended period of instability and insecurity, especially resulting from a series of catastrophic events.’
Political events in September resulted in shock waves in the financial markets, historical interest rate rises and a rapid rise in mortgage rates, all within a few weeks. The media went to town with sensational headlines and talked about the catastrophic effect on ‘the property market’. However, the UK has many property markets, each influenced by unique and local factors such as demographics, job opportunities, transport links etc. So, it is really important that we focus on what is happening in the Cirencester property market and shut out the noise and doom and gloom the media would love us to believe.
Yes, locally we did see the number of enquiries drop, we did see requests for marketing advice and new properties coming to the market drop, which is understandable as we all waited to see how political events would unfold and the financial markets reaction to them. Thankfully, Rishi Sunak being elected as Prime Minister has calmed the markets and we have seen confidence returning.
At the time of writing, we are working with very good numbers of home owners bringing their properties to the market, we are registering good quality new buyers every day and are negotiating sales on a number of properties, one of which has multiple offers. The property market has returned to normal activity levels for this time of the year when we deal with quality buyers and sellers and not those less motivated to make a move happen.
At Perry Bishop we have extensive knowledge of selling in all types of market and can tailor a bespoke marketing strategy to you and your timescales to get you the best outcome. That is why we are recommended and positively reviewed by so many of our clients.
Thinking of selling in the New Year? Our advice is free – lets chat.
Pick up the phone or pop into branch. We look forward to helping you with your next move.
Merry Christmas everyone.
Perry Bishop, 2 Silver Street, Cirencester, GL7 2BL 01285 655355 perrybishop.co.uk
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