We've now had a few weeks to assess the effect of 'Brexit' and, in spite of some early jitters, and some political turmoil, the housing market seems to be holding steady. At the point of leaving the EU, our estate agency branches had over 180 properties sold subject to contract, and only one customer withdrew from their purchase as a result of the referendum. What we have found, is that although sales continue to tick over, the number of properties coming onto the market has undoubtedly slowed, this perhaps due to a 'let's wait and see' policy taken up by potential home movers. We have also had the effect of the Euro's (sorry to mention that!), and now Wimbledon. Surprisingly enough, any major sporting event always seems to create a lull in our valuation diaries. Although I wouldn't claim to be an economist, I have over the past 15 years, witnessed the highs and lows of the property market. Regardless of any short term slow down, or even the unlikely event of small decreases in value, the market will return to a position of strength. The great British public want to own their own home (and I can't see that changing) and interest rates are likely to remain low. In short, its business as usual and I do not envisage any major changes to the housing market... but most importantly the demand is still there.
paragraphSome Facts and Figures for 2016
Average % of sale price agreed: 99.17%
Average viewings per sale: 14
Average time from sale to exchange of contracts: 60 day
So, if you're thinking of selling, the above example will give you an insight of what to expect. What may surprise some people is that we achieve on average 99.17% of the sale price on each property; this being down to advising a realistic valuation, and having an extensive list of waiting buyers.
Creating strong early interest is key to achieving a good price, a high initial valuation will lead to reductions further down the line, and a more protracted sale.
If you are considering selling or would like a valuation on your home or investment property, please do not hesitate to contact us on 01433 651888.
paragraphOur Next AuctionWe look forward to taking on new properties for our next auction on the 20th October 2016 at The Maynard Arms, Grindleford, Hope Valley.
paragraphA development potential or weekend bolt hole?
Apt 1 Rock View, Moorlands Lane, Froggatt, S32 3ZA - A stunning, very spacious ground floor apartment forming part of this stone built former family home with a good sized garden laid to lawn and pleasant views of the surrounding countryside. £239,950
Apt 2 Rock View - A two double bedroom first floor apartment forming part of this stone built former family home with large rear garden, enviably located in the picturesque and highly desirable village of Froggatt. £239,950
OFFERS THE POTENTIAL TO CONVERT INTO A WONDERFUL FAMILY HOME WITH LARGE GARDEN IF PURCHASED TOGETHER