Has the market turned?
With the government warning first time buyers to step onto the property ladder now rather than wait Fresh Invest gives it’s views on the market as a whole and it’s thoughts of a reported market turnaround.
The property market has always been a fairly fast moving animal, where price rises and falls in other markets happen on a weekly basis, the price of a new build flat seems to change on a daily basis at the moment!
We are finding that the massive discount of the last quarter of last year and largely no longer available.
I was just last week given an opportunity by a major developer at 30% discount, 2 days later i put in an offer at 40% discount for a large number of units. I was told that this was double what they were willing to do!
Obviously this confused me somewhat, in the 4 days i had taken to get back to them they had sold a number of units and could therefore be more “bullish” with their prices!
I suppose this shows how quick you need to operate in this market. It must be fairly daunting for a newbie investor, being asked to invest in something worth a few hundred thousand pounds in just a couple of days!
Unfortunately, if you want to invest successfully this is generally the pace you need to work at!