PROPERTY MARKET UPDATE - OCTOBER 2016 “side-valuation-button"

20 Oct 2016

PROPERTY MARKET UPDATE - OCTOBER 2016

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Where has this year gone? The clocks will be going back in less than 2 weeks’ time and the mince pies are in the supermarkets ready for Christmas. The kids are due to break up for the October half term and the doorbell will soon be ringing with happy trick or treaters closely followed by the sound of all the firework displays. Time flies when you’re having fun!

What’s happening in the local property market?

We are experiencing higher levels of stock in comparison to the same time last year which is encouraging news for buyers, as they have more choice. We have seen a slight decrease in the number of buyers registering; but our sales offices are finding that the majority are motivated and viewing activity levels remain healthy; resulting in more offers and sales agreed.

Understanding the market

Buyers are far savvier when it comes to prices and now have numerous purchasing tools at their fingertips and it is important for home sellers to consider this. They have usually done their homework and will have a fairly good idea on values that fall within their search criteria. Properties new to the market, that are priced sensibly receive the highest levels of attention and are likely to sell within the first 2-3 weeks of marketing. An inflated asking price at the outset could mean you risk losing interest from the optimum number of potential buyers during this key window of opportunity.

It’s a similar picture for the private rentals market. Demand remains high but rental values have slowed and rents across the UK rose just 3% in the 12 months to September according to HomeLet’s September Rental Index.

Void periods can be a real headache for landlords as it impacts on their investment return. It is therefore important to strike the right balance between attracting good quality tenants while ensuring your rental property keeps up with market rates and stays profitable.

We are on hand to help you every step of the way…

If you are planning on moving, seek the advice of a trusted estate agent prior to marketing to help ensure that when you launch your home for sale; your asking price will maximise those first 2-3 weeks of strong interest. Or, if you’re already on the market and feel that enquiry levels have dropped, now may be the perfect time to get another opinion.

Are you planning on relocating?

As members of the Relocation Agent Network, we are able to offer our clients the best service possible if you are looking to relocate. We can put you in touch with our trusted partner agents in your preferred search area, which can prove invaluable when moving to a completely new location.

With 25 years’ experience in the local property market, we are committed to helping you move. If you are thinking of selling or considering renting your property, or if you are simply seeking some advice, we would love to help. Contact the team at your local branch or pop along and speak to one of our property experts in person and discover a refreshingly different approach to marketing your home.

We look forward to hearing from you.





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