By Mathew Gurr, Move Revolution
Welcome to our second market report following on from our June issue. Thank you for all of the positive feedback so far. I, like many of you who attended the hugely successful Village Day in the same month, thought it was great to see so much involvement within the community, and thankfully the weather played its part too.
So what has changed since our last market report? Well, quite a lot as it happens! I don’t think many within the industry would have predicted the Leave vote from the European Referendum. The one thing I can say is that things are never as bad as predicted and always seem to get better quicker than you would think. The housing market is always resilient. I have been talking to experts and using my own experiences to try and forecast what will happen but it is extremely unlikely you will see the price drops between 10% and 20%. After all, at the peak of the financial crisis eight ears ago they fell nationally 10% but we didn’t see that locally. My view is that there hasn’t been an economic shock (a political shock, yes) and that we are more likely to see a softening in prices if people take a wait and see approach. However, what usually happens is that there is a sudden return of demand that wipes out any dips in the prices very quickly. Therefore, I suggest that you may see anything from a 0% drop to 5% which will be short lived. What is abundantly clear, is that the days of putting a home on to the property portals and waiting for the phone to ring are long gone. It is all about the quality of marketing – professional photography and advertising homes on websites such as Rightmove and Zoopla and, importantly, a hunger to deliver excellent service to clients.
We are seeing a great response from residents within the village to our different approach to marketing. We have completed on an excellent three bedroom home in Brookway that previously had been on the market with another agent Add to that two stunning country apartments just a short drive to Hammingden Lane, our launch of 11 new build homes close to the hospital and the continuation of the one bedroom apartments at the White House near the station, there is plenty of opportunity to talk to homeowners about their moving plans.
If you require any further information, an informal chat or a property valuation, please call me on 01444 657657 or email mathew.gurr@moverevolution.com