Local market activity and prices still going strong.
We thought that after the main stamp duty holiday ended on June 30th, we might be in a for a little lull before the market picked up again. Sometimes as well our activity can drop off a bit during school holidays. But the market has just continued with the same strength. Last Saturday for example we had multiple viewings and competing offers on a house in Barnfield Avenue which went over its asking price, and to our knowledge is the first house in that road to sell for over a million pounds. Some properties we’re selling without ever advertising them or putting them on websites, – there’s enough waiting buyers already registered with us to do that. Most Saturdays we have open days at specific properties and this Saturday we are fully booked out on one house all day with a waiting list for any viewings that become available in the week, despite the fact that in most cases we can only offer physical viewings to viewers who are either under offer themselves or having nothing to sell. We’re sorry but generally we can’t fit in people who haven’t put their own property on the market yet because in truth there’s little point. Before we’ve even shown this house we’ve had two offers on it from buyers with no chain. In any case, nearly all our advertised properties have video tours or 360 degree tours, – or both, – so anyone can get a very good idea of the property without actually going there. Of course until the end of September there is still a small stamp duty incentive which effectively means most buyers completing a sale before September 30th will save £2,500, which isn’t massive but nevertheless is still an incentive. So the market hasn’t cooled down as some ‘experts’ thought it might. Many people are still reassessing their lives in general and deciding to make a move. This year there’s also less people going abroad, so that may also be contributing to our property viewings being higher than normal for the school holidays.