PropertyView Property View
hat a fantastic summer Dartmouth has enjoyed with the excitement of the Olympics, Jubilee Celebrations, the Regatta and latterly the Tour of Britain Cycle Race. Amazingly the sun shone for the Saturday of the cycling and the area certainly stood out as a jewel on the television coverage. I have heard since that many people are making plans to visit the town as well as some of the cyclists and their teams, who apparently said that they would be holidaying in the area. Some of those people, of course, will take the extra step and buy a home in the area.
On the back of a very busy June, July and August, September started ominously quiet, although, as we head towards the final week of the month, we have agreed a number of sales to catch up. The best we can say is that the market is volatile, continues to be terribly price sensitive and the outlook remains similar.
Banks still provide the key to an active market and economy as businesses and individuals find it very difficult to arrange credit. We have recently exchanged contracts on a property in Dartmouth where the purchaser required a mortgage of approximately 15% of the purchase price. The time it took to raise this money
Change of lending policy required? W
Richard Blake
is mind-blowing and the hoops the purchaser and seller had to jump through were ridiculous.
In my view, the government’s attempt to filter through cheap money for businesses is not the answer; what we really need is a change in the banks’ lending
policies, i.e. it is not the expense of the loan that is putting people off, it’s the ability to get the loan.
The banks lending criteria has to change. Just to give you some idea of the state of the markets since 2007, the Land Registry reported that, in 2007 1.6 million properties were sold in the year as opposed to 0.65 million in 2011. Signs are that the best we can hope for in 2012 is a matching of 0.65m, although that looks optimistic at the moment.
We will stay focused during the Autumn and October can usually be the local agent’s busiest month. We have, of course, one of Dartmouth’s finest events, the Dartmouth Food Festival during October as well as half-term. Both events will help to make the month a busy one.
COLLINGWOOD ROAD, TOWNSTAL INDUSTRIAL ESTATE, DARTMOUTH, TQ6 9JY TEL : 01803 839205 EMAIL :
dartmouth@howdens.com
SUPPLYING KITCHENS, FLOORING, DOORS, BATHROOM CABINETS & JOINERY TO THE TRADE PROFESSIONALS DARTMOUTH’S SECRET NO LONGER !!
FREE KITCHEN DESIGN SURVEY FREE PLANNING
FREE COMPUTER AIDED DESIGN PICTURES FREE COFFEE WHEN YOU VISIT OUR SHOWROOM
SO WHY NOT COME AND SEE US IN OUR SHOWROOM AND HAVE A CHAT WITH OUR FRIENDLY AND KNOWLEDGABLE STAFF OR CALL US TO ARRANGE A HOME OR SITE VISIT. HOWDENS ARE TRADE ONLY SUPPLIERS AND IF YOU DO NOT HAVE AN ACCOUNT WITH US WE CAN SUPPLY YOU WITH A NUMBER OF TRADE PROFESSIONALS WHO WOULD BE HAPPY TO HELP YOU WITH YOUR IMPORTANT PROJECT. WE LOOK FORWARD TO HELPING YOU GET WHAT YOU WANT
Please mention By The Dart when responding to adverts. To advertise here, please call 01803 835740 or email
mark@bythedart.co.uk
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