At Williams of Petersfield, we are more than happy to help vendors sell their home. Even though there are many reports about the high volume of demand for property, selling your home is a challenge. Continue reading “Vendors: Does Help To Buy Assist People Purchase Property?”
Tag: property
Legislative Changes The Biggest Threat To Landlords
Being a landlord can be very difficult and there are many challenges that must be overcome, including legislative changes. In recent times, there have been notable rental fee increases and to the outsider, this will seem like positive news for landlords.
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People Are Moving House Less Often – How To Sell To Them?
While it is correct to say that the number of people looking to buy property outstrips the supply of property, which has played a key role in the rising prices of the UK property market, it isn’t necessarily easy to sell your home. This is a highly competitive market and with recent findings suggesting that people are moving home less often, homeowners need to be proactive to ensure their property is found and then appreciated by prospective buyers.
The study was carried out by Savills for BBC News and they found that in recent times, property owners moved home, on average, 1.8 times. This contrasts with pre-2008 figures which saw homeowners moving home, on average, 3.6 times. This is twice the current ratio which is a clear indicator that property owners are moving fewer times in their life, and this impacts on the property market and the economy.
There are industries reliant on property moves
Don’t forget that there are industries reliant on people moving home, and with the volume of property moves falling significantly, these industries face more competition for a smaller number of transactions. An example of this would be removals companies who have likely found that there is less demand for their services.
However, it is homeowners who are likely to be more perturbed about the decrease in property moves. This is the factor that makes it more difficult to sell property and property owners need to work hard to entice prospective buyers. It makes sense for property owners to be proactive and calling on the services of a skilled and experienced estate agent is a sensible idea. After all, if buyers are not moving home as often as they used to, you need to make sure that your property appeals to the needs of the buyers. You will find that additional space and flexibility with respect to the property and what can be achieved in the future are crucial factors, and if you have these aspects, you need to accentuate them when promoting the property.
People can take steps to sell your home in a slow market
There are ways for property owners to make their home more appealing to buyers or to stand out from the crowd in property listings. Some of the steps a homeowner should take include:
- Thoroughly clean the home
- Declutter the property, creating more space and remove personal items and belongings
- Understand who will have an interest in the property
- Prepare the outside of the home as well as the inside of the property
- Make sure the property is priced effectively
- Make sure that each room in the house has a clearly defined purpose
- Create high quality images and video content of the property
If you can meet these expectations, it is likely that you will have a greater chance of appealing to prospective buyers and sell your home. When it comes to choosing the best local estate agent, you will find that Williams of Petersfield is the ideal agent. When it comes to performing well in a competitive marketplace, we are here to ensure your home is the one prospective buyers find and fall in love with.
Asking Price And Sale Price Gap Shrinking In UK
There are many factors to consider in the property market but in recent times, the gap between asking price and sale price has been a crucial factor for many people. Many sellers have been left disappointed with an asking price that failed to materialise and some property specialists have suggested this has been a strong factor in the dip of property being supplied to the market. If property owners believe that selling their home will not bring a sufficient or satisfactory return, they will be more likely to decide against entering the market.
In their year-end review of the property market, NAEA Propertymark stated that homes sold for less than their initial asking price 77% of the time. The organisation also said that only 4% of property sold for more than it’s initial asking price. This information correlated with findings from Zoopla dating to December of 2017 which stated that that the volume of properties selling for less than the initial asking price was increasing.
Rightmove suggests that more homes are selling for sales price
However, information provided by Rightmove in spring of 2018 suggest that an upturn has occurred with respect to sales prices and asking prices. The volume of property sold for the asking price has reached the highest level since June of 2016. Mind you, given that Rightmove said that 74% of homes still sold for less than the initial asking price for February of 2018, it may not be a cause for too much optimism just yet.
It is the percentage of properties that were sold for exactly the asking price that was the important figure though and this was classed as 22%. This would be higher than the percentage suggested by NAEA Propertymark for the whole of 2017 and it is the highest recorded figure in close to two years.
With asking prices also rising by 1.5%, which is the biggest increase for March since 2007, there is a cautious mood of optimism surrounding certain issues of the property market.
Are stamp duty changes impacting on property market and asking price?
While there are many factors influencing the property market, it appears stamp duty relief changes are having an impact on first-time buyers. In information provided by the NAEA, the January 2018 proportion of first-time buyers in the full market stood at 27% while in February of 2018, this had risen to 29%.
There are also factors that may not come across as optimistic from NAEA. The volume of property-hunters who registered at estate agents in the UK fell by 16% from January to February and by 28% from February 2017 to February 2018. As of the end of February 2018, the number of registered buyers per branch was 309. There was also a dip in the volume of properties for sale with each branch having 35 properties compared to a level of 36 each branch as of January 2018.
The ever-evolving nature of the UK property market can be difficult to stay in touch with. If you want to be confident that you are fully informed as to what is taking place in the property market, be sure to stay in touch with Williams of Petersfield. We are specialists in the local property market and no matter what change or move you may want to make, we are here to help.
Petersfield and Surrounds Property News: April 2018
Up to the minute property news relating to Petersfield and surrounding areas, for April 2018.
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Petersfield Property Owners: Should You Have Listed Your Home On March 17th?
Petersfield property owners are you ready to list your home?
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Do Irresponsible Landlords And Agents Harm The Market?
At Williams of Petersfield, we do our best to support our clients, but we know that many people find the present-day property market to be challenging.
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Do Second Step Buyers Need Assistance In Buying?
Very few people would deny that buying property was difficult and for an increasing number of people, the process is becoming extremely expensive.
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Petersfield and Surrounds Property News: February 2018
The very latest property news relating to Petersfield and surrounding areas, for February 2018.
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Petersfield and Surrounds Property News: January 2018
The very latest property news relating to Petersfield and surrounding areas, for January 2018.
At the beginning of a new year, it is helpful to understand where you are and what the state of the market is. At Williams of Petersfield, we are very keen to ensure you are fully informed about the local property market. We know that you want the latest information and the most relevant guidance about the Petersfield property market and on the latest for surrounding areas.
In the final few months of 2017, we offered you a monthly review and this is something we aim to continue in 2018. This review provides you with the most pertinent and relevant news about the local property market. As local property specialists, we are always happy to discuss the market and if you would like to talk about any of these issues in more detail, please get in touch. Our team is highly passionate about the local property market and we look forward to helping you.
There are clearly many aspects that matter in the property market when buying or selling a house and space is a major issue. It is only natural that prospective buyers will be interested in the space available inside a home but you’ll find that outside space also has an impact on buyers, and even on the price of your home. When you’re looking to get ahead or you want to know what price a home carries, aspects like outside space matter, and this is why Williams of Petersfield is on hand to ensure you are fully informed at all times.
Please click on the link to receive the:
Williams of Petersfield Report January 2018
If you are keen to stay in touch with the local property market, rely on us to ensure you have all the information you need. Whether you are looking to make a move soon or you have a general interest, we believe our local property market reports are of benefit and interest.
When you need expert support and guidance in the local property market, Williams of Petersfield is a company you can trust. We have a strong reputation in supporting the local community, so get in touch and we will be more than happy to help you take your next step in the market.
The Boxing Day Bounce: Prepare Your Home For Interest
As we move closer to Christmas, there is a lot to be excited about. If you are a big fan of the festive period, you may be looking forward to having fun with friends and family members. If you are not too fussed about Christmas or even Boxing Day, you may still enjoy the chance to relax and unwind for a few days. However, not everyone is relaxing because it seems as though the period after Christmas into the New Year is one of the busiest time in the property market.
This phenomenon has been referred to as the Boxing Day Bounce. This first came to light back in 2015 when Rightmove announced that they had one million visitors on their site on Christmas Day. There was an increase in visitors on Boxing Day and by the first full working day of 2016, there were nearly three million people visiting the Rightmove site and looking for property. This suggests that this is a very busy time and if you want to sell your home at the start of the New Year, you want to make sure that your home is listed on these online property portals.
When there are buyers, it is a good time to sell
The fact that a lot of people are looking for homes at this time of year is a big incentive to be ready to sell, but there is also another reason you should have your home listed. This is down to the fact that there will be some property owners who aren’t interested in selling their home during the festive period. Some people are busy at this time of year and other folk will want to focus on spending quality time with their loved ones.
This is their loss though and it adds up to a better set of circumstances for people looking to sell their property. After all, when you have an increased volume of potential buyers in the market and a smaller volume of people looking to sell their home, you will stand a greater chance of being found by people who are looking for what you have to offer.
Boxing Day Bounce can make 2018 a very happy year
This is a very strong reason why property owners looking to sell their home at the start of the year should be proactive before the year ends. If you have plans to move home in 2018 you can give yourself a flying start by being listed on the major online property portals and by working closely with a skilled and experienced estate agent.
At Williams of Petersfield, we know how important it is to sell your home in an efficient and effective manner. This is why we are committed to providing you with the guidance and assistance you need. If you are keen to learn more about The Boxing Day Bounce or you just want to be in a good position to sell your home, come and speak to us. We are always on hand to help you make an informed decision when it comes to selling your home.