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Melksham August 2019 Market Comment

Hi Folks, my summer observations are this, here we are mid-summer holidays, and the market is generally regarded as subdued. However, due to the continued lack of stock, we are still securing some excellent prices locally. Certainly, volumes are down but ask any buyer or seller and they are less concerned about “the market” and more interested in their own situation. This usually revolves around a single property, so volumes are irrelevant!

We are acutely aware of the personal requirements and emotions behind every sale, so we handle each property as if it were the only one on our books. The summer holidays are almost an annoying inconvenience to buyers who are keen to find a property and get on with their lives.

The good news for today’s serious sellers is that some less-serious sellers made the mistake of withdrawing their property for the summer holidays a month or more ago. Activity among serious buyers remains stable, but they have a smaller selection of stock from which to choose. This supports the likelihood of a sale, as long as the price is in line with the market conditions for those sellers who remained committed. Contrary to popular opinion, the summer is actually a great time to sell! It’s no coincidence that the busiest day of the year for removal companies is the last Friday in August!

So what does this mean for sellers in the Melksham property market, well there is less competition at the moment and if you are patient and understand the nuances of the housing market enough to go with the market conditions then you will make a sale and get a deal on the other end you are buying at. It is all relative after all. At Lock and Key independent estate agents we understand what is going on locally in Melksham and are preparing all our clients, so they all get ahead of the curve.

Considering the daily media-driven scaremongering, the property market is holding its own and proving once again how resilient bricks and mortar are as an investment and, of course, a home!
Until next time

Nigel Fitzgerald – Managing Director

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