How to Work out your Property Market
|Find a road in your neighbourhood which has approximately 10 properties 'for sale'|
|Write down how many boards have actually sold.
If more than four properties have been sold, this suggests you have a rising market.
If only one or two properties have been sold, your market is likely to be falling.
|Find a property in an area similar to yours that is for sale and once it's sold, find
out how close this was to the marketing price.
If the property sold close to the asking price, your market is likely to be buoyant,
if it sold for 6% or less than the asking price, your market is likely to be falling.
|How long does it take for properties to sell in your area?
|Your market is falling if:-
|Your market is rising if:-