Housing market shows 'signs of recovery'
THE housing market in our area is steadily recovering and rising from last year's property meltdown, according to estate agents.
The credit crunch shoved housing prices to an alarming low in 2008 and put many organisations out of business.
But property experts in the Stamford, Bourne and Rutland region say there has been a turnaround in trade, and the public's confidence is being gradually restored.
Stamford High Street firm Connells claims to be enjoying its busiest period for more than two years, with demand outstripping supply.
Chief executive Stuart Flavell said: "The only thing that is stopping us selling more properties at the moment is that there are not enough coming through to meet demand.
"The clear message for anyone thinking of moving in this market is 'buy now while stocks last'."
Connells says house prices are rising and points to Nationwide figures which show a consecutive three-month increase, while the Halifax House Price Index rose by 2.6 per cent in May.
Estate agent Katy Bulmer, of Bourne's Winkworth, believes things are improving, but she feels it is important for sellers to be realistic, with the market still recovering.
She also considers national reports of house prices shooting up as a "misconception".
"If people are realistic and take on board that houses in this area have lost about 10 to 15 per cent in the last 18 months, and stick to their price, they will be able to find a buyer," she added.
Grant Murray, of Murray estate agents in Oakham, says interest is picking up, but offers a note of caution.
He said: "There's a lot more activity. I don't think people are diving in and there's still caution, but compared to the back end of last year, when people were concerned about prices, they have got more confidence."
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Saturday 26 May 2012
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