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As the evenings begin to draw in, sellers should take stock of their property if they are to maximise their chances of securing an early sale. Buyer activity is traditionally very good at this time of year, but your property still needs to compete well if it is to sell readily.

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 At Fraser Reeves, we have seen many changes in the property market. The past year and a half has been particularly trying in all aspects of life, and the way homes are bought and sold has changed considerably.

This can be seen in the impact on physical property viewings.

Many buyers are hesitant about visiting homes and of course, homeowners are wary about allowing people into their property. This has led to physical viewings dropping while online viewings take on greater importance.

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According to the Nationwide, the average house price across the UK is up 11% on last year prompted, as we know, by three things: 1) Pent-up demand following three years of Brexit confusion, 2) The SDLT (stamp duty) holiday coupled with ultra-low mortgage rates, and 3) Lifestyle changes prompted by the pandemic. Interestingly, the average percentage increase in the price of houses in England and Wales is nearly four times greater than average increase in the price of flats, as people seek more space to work from home (Source Zoopla).

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Our last article focussed on issues to think about when buying an unmodernised property. However, sellers should also be careful when considering the sale of a property in need of renovation.

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There are about a dozen property-related programmes on TV every week. Some of these track the progress of a wreck to a finished home, or at least highlight a property’s potential.  

 

  1. Do You Care What Other People Pay For Their Home?
  2. AUGUST MARKET COMMENT
  3. EPC Improvements Landlords Can Make
  4. Mature Homeowners Looking To Move

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