I am pleased to confirm that on the latest set of results with regards to sales, viewings and also offers it is clear that the market is well down the road to recovery.
With many more freehold properties being sold, this is a clear indication of not only confidence in the market but also the housing market is moving which is freeing up cash for buyers to invest into commercial property.
Similarly, banks are lending more and the criteria has been lowered making funding more available to purchasers than of recent times.
Whilst this is encouraging, there is still a long way to go before prices returns to 2007 levels.
We are finding if purchasers are realistic with their sale price, there are plenty of interested parties out there and we are seeing a marked increase in viewings. Whilst 2007 saw multiple purchasers for each business, whilst we are not at this level, we are seeing businesses and properties often seeing multiple offers.
The Bank of England state that the interest may have to increase to stem the rising housing market, this does seem that matters are returning to some kind of normality.
Thinking of selling a business? Call now for a free valuation on 0113 238 2900 or email sales@ernest-wilson.co.uk for more information on Ernest Wilson Business Agents, visit www.ernest-wilson.co.uk
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