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A Little Local Difficulty

Posted by: katalysis

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Our market commentary sometimes gets criticised by other agents for focusing too much on the wider financial picture. Well, like it or lump it, the fact remains that the local housing market is part of the bigger economic picture especially when it comes to the availability of mortgage finance. As for local factors these tend to weigh rather more heavily in Wolverhampton than they do in more affluent areas of the country. Take the latest mortgage repossessions league table from Shelter. Sadly, this shows Wolverhampton is in the top 20% with 365 repossession claims issued in 2011/2012. This implies a significant slug of extra property hitting the market. Good news for those local Estate Agents who handle repossessions. Not such good news for their non-institutional Clients whose property has to compete for the limited number of buyers who are out there.    
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