G’day from Gerrards Cross outside London where the market here is really nervous! Reports across all media, with some nice areas around here suffering sales rate falls as much as 65%.
I’ve spoken with 3 real estate agency principals and they are all shaking their heads. The market is at the “impasse” stage, with “scared of losing”, stubborn sellers sitting on high listing prices, and nervous buyers, fearful of rising interest rates and of paying too much, sit on their hands.
It won’t be long before “stretched” buyers start to “meet the market” and the true correction starts.