As the amazing rainbow of leaves that have lined the Highland streets start to fall I’m pleased to be able to report that property prices are not falling with them. Even as the weather cools prices are holding.
I love Autumn in the Highlands and it is a spectacular time to show homes when the gardens are ablaze with colour. As I said in my blog last week there is always a certain level of ‘April market’ doldrums, but this year we have seen only a slight slowdown in foot traffic and phone calls and certainly no drop in prices.
I believe that’s because our team have been very careful to emphasise the need for vendors to remain realistic in what price their property can achieve.
Our aim is always to secure the best possible price for every property. I see no value in underquoting in a bid to lure buyers with the hope they might be prepared to bust their budget. As well as being unethical it would also be unsuccessful because a key feature of all our buyers across all price brackets right now is a very clear desire to absolutely stick to their budget.
I think buyers are keen to capitalise on the low interest rates available but at the same time are conscious that rates won’t stay low forever. Whilst commentators continue to warn of a potential backlash when rates do turn, the players in the market that I’m talking to are already factoring that reality into their forward financial planning. Savvy buyers are setting their house price budget today based on what they expect will happen to rates, if not tomorrow, then at least sometime sooner rather than later.
So we provide our vendors with an honest price guide and encourage them to accept the reality of what the market can deliver.