Bradleys Surveyors Shaldon

Demand outstripping supply

Even with the rise in interest rates, food and fuel prices etc etc we are still seeing an active property market with more demand than supply. This will continue through the summer as the supply of property is unlikely to increase over night, and interest rates are still historically very low.

Our main advice is to be prudent in your purchase. There are quite a few properties which have inherent defects. Houses which may look quite reasonable but things like spray foam insulation in the roof, single skin walls, asbestos cladding, Mundic, mining or flooding issues, can render the property unmortgageable, seriously down valued, and very difficult to sell.

When you are spending hundreds of thousands on a property it would be wise to get the property checked out, especially if you are a cash buyer. The legal process nowadays takes much more time – once you have agreed a purchase get a couple of quotes for a survey and get it underway. There are normally two types of survey, one of which will be suitable for the property you are buying. Make sure you speak to the surveyor and get the right survey for you.

Tom Davies

Managing Director