Market Comment from Phillip Bishop, Managing Director
20 February 2019
Will this be the year of your move?
A new year is often an opportunity for a new start and, as expected, since the beginning of January we have already received a steady build-up of enquiries from applicants looking to make this the year they move. Rightmove reported a 5% increase in traffic to their website in January 2019 and the number of viewings we conduct weekly are consistently hitting triple figures, indicating optimism in the housing market.
Current market conditions are helping First Time Buyers who are competing with fewer investors, but still have the advantage of historically low interest rates, allowing them to fix their mortgage rate. This then allows second steppers the opportunity to upsize into a home more suitable for their growing families. Mortgage lenders are facing stiff competition and are launching more attractive rates and products.
There is continuing uncertainty surrounding Brexit, and the disparity between asking prices and salaries making affordability an issue, has resulted in a fall in the number of transactions nationally and a lowering of asking prices. We put our energy into giving you the best advice for the market conditions, whatever they may be, and tailor that to your personal needs. We will spend time understanding the reason for your move, what lies behind your decision, and then ascertaining what is most important to you – the price you achieve, or the timescales for moving. We can then tailor a marketing strategy to suit your circumstances.
Our skilled negotiators are trained to get you the very best price they can for your home, but they don’t stop there. They will also negotiate on your behalf to secure the property you aspire to move to. By working the price differential through the chain, we are successfully moving our clients on to the next chapter of their lives.
Brexit or no Brexit, we moved 71 more homeowners and their families in 2018 compared to 2017, an increase of 14%. Both our Cirencester and Tetbury branches enjoyed a very healthy start to the year, listing and selling more properties than in the same period last year. Our sales record speaks for itself. Rightmove stats show that our Cirencester team sold almost three times more homes than our nearest competitor in January.
Don’t wait for Easter, or the summer, or for Brexit. If you are thinking of selling, or know someone who is, ask them to get in touch for a free, without obligation consultation and advice.
We are here to help.