The TV drama ‘The Split’ is airing shortly. Here’s the low down on how divorce affects estate agents…
Of the three ‘D’s’ (death, divorce and debt) divorce can be, in certain circumstances, the most painful (for some) since the consequences from it can linger endlessly and remorselessly, for many years or decades, a little like permanent ‘reflux from a bad meal.’
It looks as though the rental market, at the higher end, has gone completely ‘nuts’. The reason being that, believe it or not, we are presently trying to find a suitable super, luxury mansion for an illustrious uber tenant to use for only a three months at, wait for it, an eye-watering rent of £50,000 plus per week.
To be honest, this reflects a new trend amongst certain foreign international clients who, in some cases, would prefer to pay an obscene rent, rather than purchase a property.
In a ‘bearish’ property market there are usually more properties available than there are buyers to purchase them and the negotiating power favours the purchaser rather than the seller.
I have to say that there is nothing more effective at ‘cooling the passion’ of a keen buyer than a property that is over priced. It is the biggest ‘turn off’ for serious buyers!