The market remains pretty much the same as it has done for the last six months and probably will do for the next two years:…..a steady stream of buyers, and a solid level of sales provided that asking prices and vendor expectations are sensible.
The Leisure and Retail sectors remain extremely challenging and with the seismic shifts happening in those sectors I doubt that things will ever be the same.
As for Day Nursery sector there was an alarming suggestion in the papers recently by OFSTED that the free childcare subsidy should become means-tested. I think that such an idea would be hugely damaging to the childcare industry and should be resisted at all costs. These people in the civil service seem to exist in a parallel universe and simply don’t seem to understand the financial constraints under which the vast majority of parents are already labouring when it comes to paying for their childcare!
On the good news front we are seeing increasing levels of borrowing as the major banks slowly emerge from rebuilding their balance sheets and some but not all, are starting to lend more freely. We are also much busier with viewings and offers at this traditionally quiet time of year than in previous years which hopefully bodes well for the new year.
Deals however remain tough to do and are often taking many weeks to complete. You as vendors and we as agents have to have the patience of a saint to put up with the seemingly endless and annoying demands of purchasers and their lenders!