Wednesday, February 29, 2012

Property market in the Minervois 2012

This year appears to be a little better than 2011, however as usual it is difficult to evaluate as we probably spend the last three months of 2011 preparing work for 2012.
The market, at least seems to be moving however speaking to local estate agents the number of enquiries from buyers appears to be down. We have also heard that the buyers that are showing up are real buyers rather than just property visitors.
The local tradesmen all have shorter waiting lists, however this has not led to prices coming down (this may be to do with the rise in prices of building materials and fuel prices .
The cold weather has led to a large increase in plumbing and water problems, this means in turn that plumbers are extremely busy repairing leaks and restoring water supplies. Builders and other tradesmen have all been affected in different ways, they are mainly involved in urgent repairs to water damaged properties.
Property prices are coming down around here we know of several properties for which the asking price was lowered by up to 50% to ensure a quick sale.
It seems inevitable that prices are coming down, unless sellers are prepared to wait? for the property market to rise.