Property Investing

It is always refreshing to be able to comment on a positive property news story, so you can guess how excited I am about this piece of news.

You see according to some of the UK’s leading Estate agents, over 1 in 10 properties across the UK are selling for more than their asking price.

In their quest to secure the best properties, homeowners are now willingly paying more than the properties original asking price so they can own properties in London, Oxford and Cornwall. And the reason for this sudden uptake? The fact that we are in the midst of one of the biggest housing shortages witnessed for the last 30 years.

In a report by the Royal Institution of Chartered Surveyors, they reported a 16% drop in the number of unsold properties. And this figure is closely matched by the fact that there are only 58.4 properties per estate agent across the UK. Now when you look at this statistic like this, that is not a lot.

It is really incredible to think how much of an impact a simple housing shortage – combined with tempting discounted properties – can have on property prices. In many ways it is ironic – the competition for these properties.

Think back only 6 months ago and many homeowners would have refused to pay above price. Then on the other hand this story also casts an interesting slant on an issue that many of us have not comprehended. I.E. The possibility that as more and more homeowners return to the property market that house prices will begin to rise again.

Wendy xx