Sellers and Buyers Converge This Spring
Date of Article
May 01 2009

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The convergence of vendors’ and purchasers’ expectations when it comes to house selling and buying is contributing to signs of movement in the housing market this spring, according to Paul Norton in Carter Jonas' Peterborough office.

Key in grass

This view appears to reinforce the latest published figures from the Council of Mortgage Lenders (CML) which report that loans for house purchases in February were up 4 per cent on the previous month.

Paul Norton, who is a Partner and head of residential sales in the Peterborough office of Carter Jonas, sees the latest stirrings this spring in the context of momentum which has been building steadily since January.

"There is only so long a vendor or a purchaser can hold back before selling or buying when a change in personal circumstances makes a house move imperative.

"While last summer and through the autumn, many vendors and purchasers stood back from pursuing a house sale or purchase or even bringing property to the market, we are now seeing signs of positive activity with more realistic expectations on both sides of the transaction."

Carter Jonas is busy with new instructions which satisfies the supply-side and, crucially, its Peterborough office is seeing its agents’ realistic advice on guide and offer prices being accepted by both purchasers and sellers, whose views of the current market are beginning to converge.

Paul Norton adds: "While we are not saying there is a return to anything approaching the buoyant property market we’ve all enjoyed in recent times past and we’re always mindful of the wider economic forecasts, this convergence is providing a welcome impetus to movement in the local housing market this spring."