With the recent upsurge in activity, I am only now (2 weeks later) getting to the monthly stats for February.
Some people think that we are just “talking up the market” with reports of increased activity, but I am very clear that the much busier viewing activity is being driven mainly by reduced prices. In most cases, (certainly in those properties getting sold), prices are down 30-40% on 2006/2007 levels.
Prices are currently at around 2002-2003 levels and lower in some cases.
In any event (and to prove the case) here are the figures:
As you can see, Viewings are up 133%.
Offers are only marginally up, but March has seen an upsurge in offers as the time-lag between viewing and making an offer comes into play.
Signs are that March will also be well ahead of last year.
All will be known in 2 weeks time.
Hope you all had a Happy St Patrick’s Day.
Here’s to more Irish winners at Cheltenham.