It’s not easy selling your house as anyone who’s tried lately will tell you but some people are going to extraordinary lengths to do just that.
The housing market will eventually recovery but nobody knows whether we’ll have to wait two years or even longer for that recovery to take place. In the meantime, house prices will drop and sellers will find it even harder to find a buyer as public sector spending cuts really begin to bite and contractor mortgages remain in short supply.
Of course, none of this is good news for people who are considering moving home and some enterprising home owners have now started offering prospective purchasers ‘incentives to buy’.
A man in Devon, who’s been trying to sell for 2 years, has offered a cash reward of £20,000 to anybody who introduces him to a buyer. Another man in Buckinghamshire is throwing in a 36-year-old Triumph TR6 – free, if the purchaser pays the full price of £895,000 for his listed property.
Savills expect house prices to end 2010 about 2.5% lower than they started the year and then drop a further 1% next year. However it’s not all doom and gloom for those who are prepared to wait. Research by the leading global real estate service provider suggests that an inflation-adjusted increase of 40% in house prices will happen by the end of the coming decade, as the UK encourages first-time buyers to enter the market again and cause demand to exceed supply.
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Image: Triumph TR6 by John Grabowski
