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forces in all directions
we are at a very interesting point in the property market for Bournemouth, Christchurch and Poole. Sales volumes for houses have picked up a lot, sales of flats not so much. Unemployment will probably rise. Banks have access to very cheap funding and must come under increasing competitive and government pressures to reduce their margins. Banks have also recently been successful in selling some mortgages to wholesale investors - this allow banks to lend more.
Banks are also beginning to sell land that they have acquired as a result of developers falling into administration.
Our conclusions are - we expect buyers to remain cautious and activity might increase. If the positive forces strengthen then we believe to number of people willing to buy will increase substantially.
© YOUhome® Published 30/10/2009