Talking Property

There's a new breed of 'buyer' out there, says Isabel Morton

YOU CAN listen to economists, follow news reports, analyse property results and interrogate estate agents, but a few hours spent viewing property on Saturday afternoon will give you a much better indication of the state of the property market.

Over the last few months I have noticed a different breed of property viewer on the Saturday scene.

Oversized dark sunglasses, designer handbags and 08 reg 4X4s are a thing of the past. Now it's all reading glasses, eco-friendly recycled carrier bags and hybrid cars.

Some have not sold their houses as they haven't yet mustered up the nerve to actually put it on the market, in case it just sits there and embarrasses them by its non-performance.

They view everything anyway, just so that they are up-to-date with what's going on. They are constantly comparing every property they view with their own home. They whisper to each other as they make detailed inspections and make comparative lists of pros and cons.

They torment the estate agent with tedious questions about things, like attic insulation and energy efficiency.

Others, who put their property on the market in late 2006 and only "got rid" of it late last year, are resentful. They don't even use the word "sold" as they don't think it's applicable to their situation.

You could hardly call it a "sale" when the house has spent nine months on the market with minimal viewings and zero real interest, followed by a drop in price (and face), a lengthy negotiation with a ruthless Thatcher-type battleaxe and her hen-pecked, monosyllabic husband, and the eventual handing over of an amount of money which would have been ridiculed if suggested 18 months ago. No, it most definitely was not a sale.

It was a giveaway, a steal and a bargain - but it certainly wasn't a sale.

They are in a panic to buy quickly and worry that prices will start to go up again before they have bought and that they may find themselves losing out, yet again. They intend making the vendor suffer as much as they did.

As a point of principle, they will never offer anything near the asking price.

They are dismissive of the estate agent and make unnecessarily disparaging remarks about every aspect of whichever property they are viewing.

Then there are the ones who were lucky enough to sell in early spring 2006. They are easily recognised by the smug smiles on their faces. They have been renting for the last two years and have been in no rush to buy.

They are enjoying the feeling of superiority so much that they can hardly bare the idea of buying anything at all.

The further house prices fall, the happier they become.

When chatting gaily with the estate agents, they express sympathy for the vendors, but they are in fact delighted that they were clever enough to avoid the downturn.

Another group are worn out and stressed and neither have the time nor the energy for all the wheeling, dealing and negotiating.

They have already lost two properties because they thought they were bidding against fictitious competition. They weren't and the houses sold.

Endless hours viewing properties has taken its toll. They don't much care if property prices drop any further because they have no intention of moving again - ever.

They just want to buy a suitable house and get back to living their lives. They tramp around houses with at least three bored children in tow and exhausted expressions on their faces and tend to be very honest when conversing with the estate agents.

Last but not least, there are those (generally women), who seek out properties with a vengeance.

It has taken over their lives in a way that a career never would. Their property bible (this supplement) is delivered by 7am every Thursday morning and they have analysed every word by midday. They view everything and spend hours driving around looking for the best house, on the best side of the best road, in the best area.

When viewing, they go to endless lengths to list as many complaints as possible (however trivial), in order to have plenty of ammunition to fire at the estate agent if required. They are delighted with the recent market slow down, as it gives them lots of time to negotiate a rock bottom price.

When they at last succeed in having their bid accepted, they express sudden disinterest in the property and move on to capture their next prey.

They invariably make sarcastic remarks about the interior design and the vendor's lifestyle - at the top of their voices.

For these women, there is no fun in actually buying, but great fun in bargaining.