House sales in December reach an 8-year low

Profile image for Wells_Jaqui

By Wells_Jaqui | Friday, January 14, 2011, 14:02

The traditional December slump in house sales went a step further this year with the average estate agent nationally selling just four properties during the month.

 

The focus on Christmas by potential buyers, coupled with atrocious road conditions locally have been blamed – many secondary roads in Wells and especially on the Mendips, were impassable for a significant period making viewings impossible even for those who were still focused on securing the perfect property before Christmas.

 

Even the motivation of the significant savings on legal fees to be made by beating the VAT hike wasn’t able to combat the obstinate dominance of the weather, although one local man told us he had fortunately managed to complete all his viewings and queries just in time to complete before the increase.

 

He said: “We had known for some time that the VAT increase was due and the chain had tried hard to get the sales pushed through before the deadline. I should think that all the local solicitors had their noses to the grindstone in the last couple of weeks leading-up to the rise.”

 

A local expert suggested that the stagnation in house sales over the last few months caused by vendors expecting unrealistically high prices might result in large numbers opting to rent their properties while they wait for the market to get moving again. This will naturally lead to a glut of rental properties available locally and thus commanding a lower rental value. His advice, “If you’re thinking about renting, do it now!”

 

 

 

 

      

Comments

       
max 4000 characters
        
   

Related Businesses

       
   

Latest Stories in Wells

       
      

Local Vouchers

       
  • Treat yourself to some CLARINS me-time & enhance your natural beauty.

    Frontlinestyle Hair & Beauty

    Book 4 pampering CLARINS treatments and only pay for 3. PLUS receive a vanity case containing 4 Clarins pampering favorites worth £41*.

    Terms: * Based on ml value f standard size products. One collection per customer while stocks last. Not to be used in-conjunction with any other Clarins offers.

    Contact: 01749600464

    Valid until: Saturday, November 15 2014

     
  • Little Black Dress Programme - Getting You Ready For The Christmas Season!

    Functional Fitness Forever

    Functional Fitness Forever & Love Your Skin Lisa, with Rose & Lyons give you:
    6 weeks of PT sessions and Body Wrap Treatments + free access to classes & 2 health assessments + a chance to win an LBD!

    Terms: Only £275
    3 PT Sessions
    3 Shrinking Violet Body Wrap Treatments
    Complete Health Assessments
    Free Access to Classes!
    1 LBD to the Most Impressive Transformation!
    Value £625 - You Save £350

    Contact: 01749 608718

    Valid until: Friday, December 19 2014

     
  • FREE BRITAINS TOY TRAILER

    Tincknell Country Store

    FREE BRITAINS TRAILER - SEE WEBSITE FOR DETAILS http://www.tincknellcountrystore.co.uk/item.asp?pid=78415&pref=pl&catid=1967&matrix=&scatn=&catn=CHRISTMAS+SPECIALS&dep=53&dname=TOYS

    Terms: While stocks last

    Contact: 01749 683150

    Valid until: Friday, October 31 2014

     
   

Local Jobs

       
   

Search for...

       
        
Min price is bigger than Max price
        
Min price is bigger than Max price
        
Min rent is bigger than Max rent