Cornish property market a "safe haven" for buyers says Lillicrap Chilcott
Lillicrap Chilcott, the Cornwall Estate Agent, says the Cornish property market is a “safe haven” where buyers can, and should, feel confident in investing their money.
They say while some prospective purchasers are feeling naturally jittery about committing their cash in the current economic climate, others are signing on the dotted line very happily – secure in the knowledge that acquiring well-priced property in Cornwall is an opportunity that is too good to miss.
According to Lillicrap Chilcott it is also important to remember that while the total number of purchasers looking to spend their money may be down, those who remain are generally extremely serious and willing to move fast to secure the property they want.
Andrew Chilcott, Director, said: “The Cornwall market appears to be pretty well insulated from the peaks and troughs being experienced in more volatile markets in places such as Manchester, Leeds and Hull.”
“Cities like those have been flooded with new housing developments over the last few years and there is simply a surplus of stock. Here in Cornwall we have a finite number of homes and we are never going to see that problem.”
Ian Lillicrap, Director, added: “A lot of the properties down here in Cornwall and very special and individual and they are, as a result, in short supply. Shrewd buyers are seizing on the realism of a lot of vendors as a distinct buying opportunity.”
The company reports that an increasing a number of clients are choosing to put their homes on the market now in order to take advantage of the healthy choice of properties available for them to purchase.
Ian Lillicrap added: “It is also a great time for anyone who is looking to move to a bigger or more expensive house as, with prices at their most realistic for a long time, the gap for people seeking to move upwards will be at its smallest for quite some time.”
“It’s also very important to remember that when the vast majority of people buy a property, they are buying themselves a home. A home is not meant to be a quick money-making device, it is a long term investment and by purchasing the best home they can in the most glorious location they can afford, I am absolutely certain that no purchaser will regret their investment in the medium to longer term. “
And there’s advice too for those considering renting instead of buying.
Said Andrew Chilcott: “For all the doom and gloom merchants who are saying prices are going to keep falling, the fact is that no-one really knows. Those people who are putting their house-buying plans to one side on the off-chance that prices will fall further are taking quite a major gamble and there is no guarantee whatsoever that it’s a gamble that’s going to pay off.”
Ian Lillicrap added: “Anyone who is hesitating should really just take the plunge and accept that now is a very good time to buy. Prices are at their most realistic for a long time and there are signs that the lenders are reducing their margins and bringing out competitive fixed rate mortgage deals which suggests very strongly that the principal lenders believe that there will be reductions in the Bank of England base rate before long. All these factors simply serve to enhance the buying opportunity that today’s market presents.”