HURRY UP AND WAIT?

Neil Maxwell

During storm Eunice a client travelled a considerable distance to view a house on the seafront. Despite our best efforts to rearrange the viewing, the client was determined to see the property. As we feared, the waves were breaking over the seawall and onto the building, which required us to wait between crashing waves before trying to open the front door. It was actually quite an exciting occasion, but also indicative of how there are so few properties for sale that a potential buyer will ignore storm warnings to view a two-bed flat.

The lack of property on the market is causing a major problem to the housing market, with incomplete chains now effectively throttling sales. And speaking to other agents around the country, this is very much a national issue.

Many people who have sold their properties are now having to ask their purchasers to be patient whilst they try and find their next home, often leaving buyers waiting many months for things to fall into place. Going into rented accommodation for some clients, in order to break the chain, has been an expensive, but sensible option, allowing them to make an attractive offer, without being part of an often complicated housing chain. Unless homeowners are willing to go into rented accommodation, the market is really stuck in a broken domino effect. And the more people that say they can’t find anything to buy, the less likely other people are to put their houses on the market. It’s difficult to see what might need to happen to break the deadlock.

One recent property ended up with over six different good offers on the table and we worked hard with the owner to ensure they got the best price from the best buyer, especially as the highest bid doesn’t always present the best buyer for the homeowner.

If you are thinking of selling, do give us a call and we can give you an objective opinion of the market and work with you to find your next home and, if needed, a patient buyer.

WHITWELL ROAD - £860,000

• Delightful Edwardian Semi Detached house within a popular residential location • Huge 6 Bedroom layout with two shower rooms and beautifully fitted bathroom • Off road parking for two cars • EPC Rating D

MILEBUSH ROAD - £350,000

• Modern Terrace house situated in a highly requested location close to Milton Common and

Langstone Harbour • 3 Bedrooms with master bedroom including an en-suite. • Westerly Facing landscaped garden plus parking for two cars. • EPC Rating C

BROAD STREET - £775,000

• Impressive modern town house located in the heart of Old Portsmouth opposite the Hot Walls. • Currently set up as a 3 bedroom home with flexibility to make a 4th bedroom. • Offering impressive views of the Solent from the top floor bedroom and integral garage. • EPC Rating D