>Fast movers...
Depending on where you live in the UK there are always certain sections of the market that are labelled "hot spots". These areas see typically higher growth in sales figures achieved by comparison to the other local areas. There could be a number of reasons for hot spots to develop. Sometimes certain areas experience a renaissance whereby they become trendier up and coming locations for younger people. Prestwich for instance has been attracting a lot of good press recently being labelled the "Didsbury of North Manchester", and there has been a good increase in demand which has been reflected in rising values in the area. But occasionally it's the good old fashioned principles of supply and demand that cause hot spots to develop as the market struggles to meet the demand. For instance, if you are looking for a house in Prestwich right now in any of the lower price brackets up to £400,000 you are probably having a hard time finding it a very competitive market. Things are going under offer so quickly that you have to make each viewing and every offer count. If you are looking between £200,000 and £300,000 for three to four bedroom properties, sales are being agreed within days of the properties coming to the market and at figures at or very close to asking. In Whitefield at the moment there is an all-time low level of new stock between £400,000 and £750,000 and many buyers are waiting for that dream house to come to the market, anxiously checking their Rightmove and Zoopla updates for new arrivals. As competition in the popular price brackets heats up, as a buyer it is important that you are prepared in advance of making your offer. Make sure that your proof of funding is up to date and available. Most good agents should be checking proof of funds and chain information, in order to qualify the offers they receive before they put it forward to their client. If you have this information readily available you will be one step ahead. If you are reliant on borrowing mortgage funds to buy your next property then it is definitely a good idea to talk to a mortgage broker today before booking viewings. If you haven't applied for a mortgage recently, the likelihood is you do not know precisely how much you can borrow or whether you will be eligible for finance. If you need a recommendation to a reliable broker or financial adviser, we'd be happy to assist. Perhaps you are thinking of selling your property? In which case get in touch with us today on 0161-773-7715 for a free, no obligation valuation. We need more stock to meet the current demand and we have qualified buyers waiting in most price brackets.   David Mintz Director