IT'S official...more houses are being sold in the Forest of Dean this year than last, though prices are a mega 25 per cent down on 12 months ago.
The lower end of the market is burgeoning, says Sharon Preest of Bairstow Eves, Lydney.
"There has been a definite upturn in the market," she confirms. "There is a strong demand for sensibly priced properties from both cash buyers and those with mortgages. Investment buyers are coming back out because they believe there is nothing to be gained by having money in the bank and there are golden opportunities for those with good deposits."
But, for sellers, there is a downside.
Ms Preest believes that over the next few months house values will fall still further.
"There is still a lot of property on our books where prices have not been adjusted. The market is all about realistic prices and while it is reasonable to still have expectations it is the sensibly priced property that will always sell," she said.
Ms Preest said that her Lydney office had sold more properties in March this year than in March last year and that April sales had already beaten those of 2008.
The top sales were at the lower end of the market but mid market properties – those up to £250,000 – were also being moved, though at a much slower rate. It was, she said, at the top end of the market that sales had stagnated.
Giving examples Ms Preest said two and three bedroom semis were quick to sell at up to £120,000.
"We are back to the prices being achieved in 2003/4 but sellers should remember they are also buying properties at equally reduced prices," she said.
Recent realistic mid-market prices included a four bedroomed detached for £183,000 — a property with a pre-recession price tag of £240,000.