The top corner of Prince of Wales Road is now empty - left to the night time dwellers to themselves at last.
Yes potter and co, the longest established residential estate agent in town has finally relocated to 12 Bank Street - just across the road.
Bank Street is a historic City centre street, one of the smallest that you can still drive and PARK in.
Before moving to 2 Prince of Wales Road in 1969 Potter & Co was long established at No 2 Bank Street. Also in the road then was a sweet shop, a pub (The Bank Tavern), Greenland & Houchen solicitors, Bush Builders, East Coast Grain Silos, and a cafe with excellent bacon rolls.
We have been busy moving over, from a sort of Goldfish bowl office to more of a Tardis. The atmosphere is more relaxed, we can concentrate on matters of worth rather than directing tourists all day to the City centre. We are finally settled in and getting ready for Christmas.
Those people in the throws of buying are screaming to get sales through before the new year hike in Stamp Duty (on properties between £125 and £175,000) and increase in Vat.
We will now calmly assess the situation for the new year.
In 2007 I predicted that house prices could fall by 30%, and indeed at the beginning of this year it did seem as if they would (however they only reduced about 20%). But the middle part of the year saw demand rise and prices creep up. Still a way off the peak of 2007 though.
We cannot tell whether they will still increase more. I think they have been bouyed by 'Quantative Easing' ie printing money, low interest rates (how long will they last), not so many reposessed properties as expected, lower than expected unemployment rates and a lack of supply.
In a way it is the volume of sales that has been a worry. Down almost 50% on peak. Sellers have not thought it a good time to move - the uncertain financial situation has bred caution and large deposits required by lenders has deterred even further.
So we encourage everyone to take a calm and sensible approach to moving in the New Year.
Just for now we will enjoy the new atmosphere in Bank Street.
David Potter
