Happy Monday and a belated Happy New Year 🙂
WOW… what an incredible start to 2018 (both professionally and personally).
I’d normally be recording a market update video but a very healthy baby ‘Freddie Perry Power’ arrived on the 04th Jan so I’m massively sleep deprived, need a hair cut and look a mess so it’s a good old fashioned email today 🙂
Anyway, I digress… The property market.
So what’s been happening?
Below is a list of sales our incredible team have agreed (and offers we’re negotiating) in January alone from our single office. Many of which were agreed OVER marketing price:
What I find refreshing is the range of property values. Towards the end of last year, the lower end was really struggling due to buy to let investors being taxed more. Maybe the stamp duty break for first time buyers is starting to have a positive effect on the market!
The new build market
The premiums paid for New Build homes continue to rise (as you can see from the image below). Partly due to the convenience of owning a brand new house and partly due to the need for only a 5% deposit.
We’ve just launched a STUNNING development of 7 brand new homes in Dorking. Check them out HERE
So what’s the outlook for this year?
Although we’ve had a great start to the year here at Power Bespoke (mainly due to our unique marketing approach… and our great team of course!), I expect the market to stay fairly flat this year but prices will continue to rise slightly due to the lack of supply and demand remaining fairly consistent. Many people we are speaking to are deciding to stay and improve rather than move.
The crucial thing to remember when trying to sell is to keep your marketing price competitive and comparable to recent sales. If you over egg the price even by 5%, it could cause your property to stagnate and you’ll have to reduce later.
How can we help you?
Remember, if there’s anything you need help with, one of our agents will be delighted to pop round and offer their advice. You can book a meeting directly into our diary and we’ll be there 🙂
Have a great week 🙂
All the best