Agents report increased interest in property in Scarborough

Estate agents in Scarborough have confirmed that property viewings in the area have risen as buyer interest has increased over the past weeks.

The estate agents said that spring was normally a season when they would see a rise in buyer interest. Purchasers were said to be local people searching for a second home for buy to let purposes, or investors preferring two-bed flats with sea views.

"There is definitely more activity. However prices are still very competitive, vendors have to be realistic," said Nick Fenwick, a partner at Colin Ellis property agents on the east coast.

He went on to say that there are early indications that the situation is not currently as bad as it had been, and that the company had been encouraged by an increasing number of transactions.

Meanwhile, Stephen Short of CPH property services said that he'd found a rise in the amount of people looking for investment property at the lower end of the market. Mr. Short said that these potential buyers were not professional investors but people with savings who were considering the long term gains of the buy to let market. He added that he'd seen an upturn in property enquiries and viewings which was "very encouraging".

Research carried out by Halifax has confirmed that there has been a move towards purchasing on the coast as opposed to in the cities, with families taking advantage of lower house prices to buy a weekend property or for relocation purposes.

Source: Scarborough Evening News | Last updated: 19th March 2009

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