York estate agents have cause for optimism

PROPERTY agents in York are looking towards improvement in the market in 2013.

Despite ongoing economic uncertainty, “realistically priced and proactively marketed” properties were still creating interest, said Ed Stoyle, partner and head of residential for Carter Jonas in York.

He said: “2012 has proved to be another year of highs and lows – some properties have sold well amid healthy competition, while others have taken longer to find the right buyer. Confidence remains fragile.”

He said he anticipated a general improvement in market conditions in 2013, although this will not necessarily result in an increase in prices. “We have a good number of buyers who are keen and motivated to purchase properties now and these will only increase as we move into the New Year. Likewise, we are already instructed on a number of exciting and interesting houses with a view to commencing marketing early in the New Year.

“Our advice for anyone who is considering moving at some point in the New Year is not to delay – get on and take advantage of improving market conditions. There may well be positive pent up demand with more active buyers and fewer properties being offered for sale than later in the spring.”

James Baker, senior director of Preston Baker, said the firm had experienced a reduction in the number of new sellers coming to the market in the third and fourth quarters of 2012.

He said: “This may sound like a reason for further gloom but in fact the consequence has been that sales rates have increased.

“Because mortgage lending is still restricted despite the government’s Funding For Lending scheme, there is a finite number of ready, willing and able purchasers. A small decrease in the number of new listings has actually created more confidence in the market as a higher proportion of stock is now sold.”

The Council For Mortgage Lenders has just announced that the number of new mortgage approvals is up 10.2 per cent on October 2011 and an even higher rise of 19 per cent increase in the number of approvals going to first time buyers, he said.

“Lots of customers will be considering selling in 2013 and I believe it will be a stronger year than 2012 has been. At Preston Baker we have grown by over 25 per cent in 2012, so we feel very optimistic about next year.”

Comments (11)

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8:00am Wed 2 Jan 13

Prob says...

Well if course they're suggesting the market is good and people should move. That's how they make their money.

Try asking independent experts instead.

Tomorrow's articles;

- Cows "more delicious than ever" agree Butchers and Farmers
- Credit card spending "helps recession" says boss of bank

Etc etc
Well if course they're suggesting the market is good and people should move. That's how they make their money. Try asking independent experts instead. Tomorrow's articles; - Cows "more delicious than ever" agree Butchers and Farmers - Credit card spending "helps recession" says boss of bank Etc etc Prob
  • Score: 0

8:19am Wed 2 Jan 13

Paul Meoff says...

Prob wrote:
Well if course they're suggesting the market is good and people should move. That's how they make their money.

Try asking independent experts instead.

Tomorrow's articles;

- Cows "more delicious than ever" agree Butchers and Farmers
- Credit card spending "helps recession" says boss of bank

Etc etc
Or cycling gives you cancer from the association of fat lumps in traffic jams.
[quote][p][bold]Prob[/bold] wrote: Well if course they're suggesting the market is good and people should move. That's how they make their money. Try asking independent experts instead. Tomorrow's articles; - Cows "more delicious than ever" agree Butchers and Farmers - Credit card spending "helps recession" says boss of bank Etc etc[/p][/quote]Or cycling gives you cancer from the association of fat lumps in traffic jams. Paul Meoff
  • Score: 0

8:50am Wed 2 Jan 13

nearlyman says...

More bull from the biggest of all bull****ters !
More bull from the biggest of all bull****ters ! nearlyman
  • Score: 0

10:03am Wed 2 Jan 13

bob the builder says...

They're scared of who'll go bust first in 2013. If they priced properties realistically to sell that might help.
They're scared of who'll go bust first in 2013. If they priced properties realistically to sell that might help. bob the builder
  • Score: 0

11:15am Wed 2 Jan 13

eurosteve says...

rubbing their grubby little fingers no doubt.
pushing up prices and fees
KERCHING

come on get real York is not all "upmarket "
in fact only a small % would be considered so
but the cost of housing to buy or rent is a total rip off due to these unregulated thieves.
most cities have lots of property available directly from landlords - but in York its nearly all with greedy agents taking a cut.
rubbing their grubby little fingers no doubt. pushing up prices and fees KERCHING come on get real York is not all "upmarket " in fact only a small % would be considered so but the cost of housing to buy or rent is a total rip off due to these unregulated thieves. most cities have lots of property available directly from landlords - but in York its nearly all with greedy agents taking a cut. eurosteve
  • Score: 0

12:53pm Wed 2 Jan 13

patch77 says...

In a couple of months it'll be 2 years since our house went on the market. 3 estate agents later and half a dozen viewings (all from estate agent no. 3, the first 2 did nothing at all) and it's still unsold. I get the impression that most estate agents are happy to just sit back and have houses on their books but not actually bother to actively try and sell them. Having said that, the finite number of ready willing and able purchasers mentioned in the article are going to be those with plenty of money, so maybe the estate agents are making enough from the sale of top end houses to not need to worry. Cheaper houses like ours will stay unsold until lending rules are relaxed and more people can afford to get on the housing ladder. I keep telling myself it's a good job we're trying to sell because we want to move rather than because we have to really but it's still a very depressing situation.
In a couple of months it'll be 2 years since our house went on the market. 3 estate agents later and half a dozen viewings (all from estate agent no. 3, the first 2 did nothing at all) and it's still unsold. I get the impression that most estate agents are happy to just sit back and have houses on their books but not actually bother to actively try and sell them. Having said that, the finite number of ready willing and able purchasers mentioned in the article are going to be those with plenty of money, so maybe the estate agents are making enough from the sale of top end houses to not need to worry. Cheaper houses like ours will stay unsold until lending rules are relaxed and more people can afford to get on the housing ladder. I keep telling myself it's a good job we're trying to sell because we want to move rather than because we have to really but it's still a very depressing situation. patch77
  • Score: 0

1:38pm Wed 2 Jan 13

xxwitchyxx says...

nearlyman wrote:
More bull from the biggest of all bull****ters !
Totally agree. We see the same headline every year.
[quote][p][bold]nearlyman[/bold] wrote: More bull from the biggest of all bull****ters ![/p][/quote]Totally agree. We see the same headline every year. xxwitchyxx
  • Score: 0

6:29pm Wed 2 Jan 13

Harshbutfair says...

Grow up. You sound like children.
Stuck in the 80s stereotype.
Agents have a legal duty to get the best price for a house.
Although it makes no sense to ask them about the future market- they are not economists!
Grow up. You sound like children. Stuck in the 80s stereotype. Agents have a legal duty to get the best price for a house. Although it makes no sense to ask them about the future market- they are not economists! Harshbutfair
  • Score: 0

8:46pm Wed 2 Jan 13

nearlyman says...

Harshbutfair wrote:
Grow up. You sound like children.
Stuck in the 80s stereotype.
Agents have a legal duty to get the best price for a house.
Although it makes no sense to ask them about the future market- they are not economists!
The only people stuck in the 80's stereotype are the agents......and as for best price for the house....I think they need to get real with the pricing. If interest rates suddenly went up just a little, a sizeable proportion of homeowners, (bad expression...better 'mortgage slaves') would lose the lot. Furthermore, when young couples earning the real average wage for York have a cat in hells chance of getting on the ladder, something is very seriously wrong. The facade will end though and probably quite messily.
[quote][p][bold]Harshbutfair[/bold] wrote: Grow up. You sound like children. Stuck in the 80s stereotype. Agents have a legal duty to get the best price for a house. Although it makes no sense to ask them about the future market- they are not economists![/p][/quote]The only people stuck in the 80's stereotype are the agents......and as for best price for the house....I think they need to get real with the pricing. If interest rates suddenly went up just a little, a sizeable proportion of homeowners, (bad expression...better 'mortgage slaves') would lose the lot. Furthermore, when young couples earning the real average wage for York have a cat in hells chance of getting on the ladder, something is very seriously wrong. The facade will end though and probably quite messily. nearlyman
  • Score: 0

10:58pm Wed 2 Jan 13

Al1017 says...

Estate Agents have nothing to do with inflating house prices. House prices are determined by what buyers are willing AND able to pay. The reason houses are staying on the market for months/years on end is because sellers want too much money for them.

The only exception to that might be houses on the market for 600k+ where you are waiting for the right person to come along. I'm not an estate agent but am involved in property and regularly experience vendors and agents quibbling over the price to put the property on the market on at. I've yet to experience the agent being the party pushing for the higher price.

Overprice the house and the house won't sell. If the house doesn't sell the agent gets diddly squat.

House prices can't fall much because the home owners/ landlords won't sell for less than they want. Instead of selling they'll just rent out instead.
Estate Agents have nothing to do with inflating house prices. House prices are determined by what buyers are willing AND able to pay. The reason houses are staying on the market for months/years on end is because sellers want too much money for them. The only exception to that might be houses on the market for 600k+ where you are waiting for the right person to come along. I'm not an estate agent but am involved in property and regularly experience vendors and agents quibbling over the price to put the property on the market on at. I've yet to experience the agent being the party pushing for the higher price. Overprice the house and the house won't sell. If the house doesn't sell the agent gets diddly squat. House prices can't fall much because the home owners/ landlords won't sell for less than they want. Instead of selling they'll just rent out instead. Al1017
  • Score: 0

2:11pm Thu 3 Jan 13

piemagico says...

Al1017 is completely right. Vendors determine the price, and if nobody's willing and able to buy at that price then you need to lower it. This is not difficult stuff.
Al1017 is completely right. Vendors determine the price, and if nobody's willing and able to buy at that price then you need to lower it. This is not difficult stuff. piemagico
  • Score: 0

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