Homes Selling, But Only At Right Price

Bryher

Islanders are still able to sell their homes but you need to be prepared to trim up to 20% off the price, according to local estate agent, Tony Dingley.

Tony from Island Properties says buyers in the current economy are looking for a bargain, and while the perception is that second-home purchases have flat-lined, he has sold to second homeowners, relocators and locals.

Tony says there are still plenty of buyers and a lot of people who want to live in the Isles of Scilly.

Properties are exchanging hands but vendors have to reduce the sale price in line with the current market. He says once vendors realise this, then properties go fairly quickly.

Tony says flats aren’t selling so well as these are often bought as holiday accommodation through second mortgages, which are becoming increasingly difficult to obtain.

He says he doesn’t feel prices will go much lower but they won’t go up for some time either.

2011 ended better than 2010 and Tony says his sales were around 40% up on the previous year with 14 homes changing hands.