SECTOR FOCUS: PROPERTY


PROPERTY MATTERS


Don’t panic! – Plymouth’s property prices aren’t all at sea. Ben Dreher, Director at Mansbridge Balment Plymouth, offers his advice to buyers.


Buyers and sellers in Plymouth were today urged to pay heed to the famous Dad's Army rallying cry as new figures showed yet another fall in UK house prices. ‘Don't panic’ was the defiant message from Mansbridge Balment Plymouth's Ben Dreher, who said a rise in first-time buyers was helping the local market to stay vibrant. Ben, Director at the agent's Plymouth City Office, also


pointed out that the continuing shortage of suitable properties in the city is creating demand and ensuring prices stay strong. Leading building society Nationwide has announced a


fall in house prices for the third month in a row in May, the first time since 2009 that prices have dropped for three consecutive months. But Ben said despite the national picture there was


Ben said if sales are stalling it is usually down to inexperienced valuers


over pricing properties in a bid to secure a seller's business at any cost. He urged people in Plymouth to be particularly wary of the internet based agents and the 'no commission culture' currently pervading the property market. While High Street agents like Mansbridge Balment operate


‘Here in


Plymouth I can assure people


much to be positive about in Plymouth. While the city has not seen significant property price rises in


recent months, there haven't been the sharp falls either, he said. "Much of this is down to our very stable economy here in Plymouth. We


have a considerable proportion of people in civil service posts on fixed salaries, which although haven't necessarily risen, have not fallen either," said Ben. "Mortgage companies are more than willing to lend to employees in this


kind of stable employment situation and as a proud naval city we have also been benefiting considerably from the forces help to buy scheme."


there are plenty of buyers waiting to move’


a ‘no sale, no fee’ service, internet companies still charge even if they don’t sell, said Ben. "Talk of continuing house price falls tend to stir the


media into immediately focusing on the negative, but here in Plymouth I can assure people there are plenty of buyers waiting to move as low interest rates continue to help stimulate the marketplace. "It's about finding an estate agent who is both honest and realistic in terms of correctly pricing a property. It's also about those agents who always show a willingness to go the extra mile for customers, not just relying on the internet


to secure a sale. "Don't panic is the message. It is still cheaper to buy than rent and what


better place to buy than in a wonderful seaside city like Plymouth," added Ben.


26 Chamber Profile July/August 2017


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