Advice issued on marketing properties

News Category: Marketing

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Those marketing properties such as letting agents and landlords should focus on consumers who are taking advantage of the historically low interest rate, according to one expert.

James Hyman, partner for residential sales at Cluttons, advised those selling bricks and mortar that they should market the homes in a certain way because there is currently a shortage of property.

The Bank of England's monetary policy committee (MPC) last week opted to keep interest rates at 0.5 per cent, which ensures the cost of borrowing is at an all-time low.

Many property industry observers and economists believe the MPC will keep the base rate at its current level for the rest of 2009.

Reflecting on the Royal Institution of Chartered Surveyors' latest housing survey, Mr Hyman said: "Buyers are back in the market."

"Heightened competition for quality properties is resulting in faster sales and a stabilisation of prices," he added.

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