New buyers on the up in Hertfordshire
PUBLISHED: 12:35 18 March 2010 | UPDATED: 16:55 20 February 2013
THE arrival of Justin Godfrey as associate director at Savills' Barnet office last November coincided with a three-month period when more than 6,000 people registered with the agency's regional offices in the UK.
THE arrival of Justin Godfrey as associate director at Savills Barnet office last November coincided with a three-month period when more than 6,000 people registered with the agencys regional offices in the UK.
Between them, the new buyers coming into the market had 6.2bn to spend, with budgets of anything from 500,000 to 3m.
The new boss believes pent-up demand for the best houses will be a feature of the spring market. He predicts, The mainstream will continue to be constrained by restricted mortgage availability and a slow recovery from recession is not in doubt but the outlook for the prime markets is more benign.
In this sector buyers are less reliant on high levels of borrowing. Our research team forecasts much less price volatility and much earlier return to sustained growth.
One thing that the prime housing markets prove, even in a period of volatility, is that, over the long term, any commodity in short supply and high demand will outperform the average.
Having said that, the experts arent expecting any fireworks by way of soaring prices for the best houses in the regions this year but come 2015, if would-be sellers can hang on that long, values will have risen by 27 per cent.