Spring will not result in a dramatic uplift in buying and selling activity, Liberty’s John Mohnacheff has claimed.
Speaking to The Adviser, Mr Mohnacheff said the days of hot selling seasons are now over, with potential buyers entering the market at any time of the year.
“I think the traditionally ‘hot selling seasons’ are gone. People are more savvy now. They buy when they are ready,” he said.
“We are in a level market. Rates are the lowest they have ever been and property values are fairly stagnate. As such, people are only buying when they can and not when the market dictates they should.”
Mr Mohncaheff said he doesn’t expect to see a big improvement in sales over the spring selling season as borrowers aren’t keen to enter the market before they are ready and vendor expectations are still very high.
His comments were echoed by Century 21’s chairman Charles Tarbey who also believes the days of “hot selling seasons” are now over.
“People will buy any time of the year. There is no hot season anymore. Today, every season and every month has the potential to be hot – which bodes well for both brokers and estate agents,” he told The Adviser.