The talk is of the dreaded “double dip” recession but we think we are some way off this. Dealing with both commercial and residential property gives us a fairly unique perspective on things in the local property market.
We are still busy with letting smaller offices and industrial units (mainly under 2,500 sq ft or 240 sq m) which is very encouraging. Based on previous “dips”, if the commercial lettings market stops the residential sales market follows shortly after.
The local business economy is definitely improving and so the currently “flat” residential market will eventually pick up.
This sort of market can be very frustrating for buyers and sellers. Buyers want new stock, sellers are reluctant to drop prices and often forget the old adage “you buy and sell in the same market”.