Summerfield Press Releases

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January 2006

Local developer Summerfield is predicting house sales will not rocket or fall in 2006/7 but will continue at a steady rate.

Divisional director Richard Nicol says it is impossible to predict the future but that is the expanding company's best guess. He points out that the South West is a highly popular place to live and employment levels remain strong.

Summerfield Developments of South Road, Taunton, say the predicted imminent collapse of the housing market in 2005 just did not happen.

A number of commentators and institutions predicted a downturn in the market at the beginning of last year, saying it could be worse than in 1989/90 when massive falls in house prices did take place.

Mr Nicol said that such negative comments could often turn into self-fulfilling prophecies, and the more that is written, the bigger the effect.

"Talking a market down often leads to lack of confidence and then the market does fall."

Mr Nicol added: "As a local developer we are pleased to say this has not been the case. While prices have stabilised, the number of sales has steadily improved. Certainly the second half of the year has been better than the first, and indeed the last few months have been better than previous years.

"The common shout of 'large discounts and incentive packages' has not materialised. While some incentives, such as carpets and curtains have been common, it has not been on an across the board basis.

"As for 2006, as always it is impossible for anyone to predict the future. Our guess is that prices will not rocket or fall and that sales will continue at a steady rate."

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