With the Bank of England announcing a cut in interest rates today of a quarter percent, this gives a welcome boost to confidence for the spring property market” says Michael Fiddes, of Strutt & Parker’s Davies Street office.

Applicant registrations and viewing numbers both increased during the second two weeks in January compared to the first two. Nationally, with Strutt & Parker’s 52 offices nationwide, since Christmas we have registered 237 people, each with over £2m or more to spend.

Potential buyers are not to be afraid of making an offer on guide prices quoted. In the prevailing market most sellers will consider agreeing a sale at a reduced price, especially if the buyer is on a position to proceed quickly.

It is likely there will be a shortage of quality property available this spring as a number of potential sellers are being cautious in the prevailing market conditions.

Fiddes comments: “Although the market has understandably been quieter over the last few months, it is not nearly as bad as the national press articles have been stating. My advice is that buyers should not ignore the window of opportunity the current market conditions provide for people to buy the house to which they aspire.”