Vendors set high expectations for months ahead

Jessica Darnbrough

The traditional spring selling season may fail to meet vendor expectations, RESI’s chief executive Lisa Montgomery has claimed.

Speaking to The Adviser, Ms Montgomery said a lot of property had come on to the market in the last few weeks in preparation for the spring selling season.

But while many vendors will undoubtedly have high expectations, buyer caution may stop those expectations from being met.

“We are going to see a lot of vendors disappointed with the price because buyers will be few and purchases will be few,” she said.

“Borrowers are very cautious at the moment. The higher cost of living and an increase in costs associated with moving are forcing potential property buyers to stay put.”