Still some froth in the West End?

Never a good story to tell your client that they have lost out on a property by £20K at a closing date in the west end of Glasgow. Just off Hyndland Road in the heart of the vibrant West End, we had thought that we were in with a shout as we ourselves bid £20K over the Home Report. So that means there was someone out there with deep enough pockets to go £40K over the Home Report. Ouch! There are not too many out there with that kind of clout.

The feedback that I am getting from agents is that these 2/3 bedroom flats in prime West End are being snapped up by buyers who are sitting tight for the long term. No need to concern themselves about the market catching up in the short term - these buyers are looking 15 - 20 years into the future so have time to ride out any initial negative equity.

Where will it end?

As with all things you've got to hope that you don't buy at the top of the rollercoster because you may need 10 years to recoup your losses as those of you who bought in 2007 will attest to.

We've got one closing today off Clarence Drive. Time to dig deep!