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A Balanced Outlook

May 2011

Michael Dukes, PartnerMichael Dukes, Partner

Having been in property sales for some 35 years, present market conditions take me back to the days of the late 1970's and early 1980's where neither buyer nor seller were in ascendancy. For most such memories of a balanced market are very dim indeed, if ever experienced, as, for the last 20 years we have either seen strong or roaring inflation or a burst bubble both in the early 1990's and from 2007 onwards.

The buyer's market that we have seen over the last couple of years or so has now become far more of an even keel however as prices have stabilised, the availability of mortgages have freed up somewhat, but stock levels remain historically at a low point meaning that buyers do not necessary have it their own way.

Levels of transactions however remain relatively low and certainly no better than 60% - 65% of where they were in the 2004 - 2007 period.

There are so many elements to a successful sale and it is certainly far more than a "one trick pony" of pricing although this stands out as by far the most important feature. A tight organisation running effectively behind the sale is vital from beginning to end - all agents have access to the internet property portals whether they be Prime Location, Rightmove or others, but this is far from being the magic wand that some thought it might have been. Effective marketing involves quality presentation and advertising but also the enduring values on attention to detail, response to buyer and client alike and an inbuilt knowledge of how to handle tricky situations with delicacy and professionalism.

Greenslade Taylor Hunt have been involved with property affairs for clients since 1843 and are one of the few firms of its size still trading as chartered surveyors in the southwest of England. We pride ourselves on a low turnover of staff and our training programmes each year ensure that we keep up to the mark both in terms of trading standards, modern technology, and marketing. Our computer systems ensure the widest exposure of property on behalf of clients and this is backed up by dedicated and focused senior staff.

Our watch word as a firm is "experience counts" and that is never more true than the necessities of the current market demand.

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