Take advantage of the market's selling season

Is it still location, location, location?

 

Faced with the prospect of a lockdown-free summer, buyers are anxious to move quickly, resulting in record numbers paying over asking price to secure their dream property.

 

With leading experts predicting that the house buying frenzy is here to stay, is location still as key as it used to be for buyers?

 

In the space of just 18 months, we've seen homebuyers rush to the countryside and back to cities again, as they've swapped lifestyles and jobs to better suit their own needs post-lockdown.

 

However, while requirements have altered dramatically for some, the popularity of online searches for the perfect location shows that this remains high on the list of buyer priorities.

 

So, what stands out as the perfect place for today's buyers?

 

- Access to areas of green, open space or gardens has become an immediate priority for many homebuyers.

 

- Now lockdown is coming to an end, people want to be close to cafes, restaurants, leisure amenities and shops once more to make the most of their freedom.

 

- Being close to the office is also becoming important again, as people adopt a hybrid style of working. This has also brought demand for a suitable working space at home, as well as a fast and reliable broadband connection.

 

- Being in a good school catchment will always be a priority for families.

 

- Buyers are doing their research into future developments in the area, like new schools, hospitals, shopping facilities or public transport links, as they can dramatically affect future house prices.

 

Location is a key factor in driving up demand.

 

If you’re looking to find the perfect location or sell your property, get in touch today.

 

 

 

What’s driving property prices?

 

Asking prices continue to climb, with several key reasons to explain why this is happening after the emergence of a global pandemic.

 

 

A record number of people are looking to move

 

If you cast your mind back to a pre-pandemic time, the property market was faced with extraordinary pent-up demand due to Brexit concerns, as buyers and sellers put their plans on hold.

 

Before this pent-up demand could be fully alleviated, COVID-19 made its way across the globe in spring 2020, shutting down the property market along with most other commercial sectors.

 

The government were quick to launch schemes and support to encourage a return of activity, with tremendous success last summer, mainly driven by the extended stamp duty holiday.

 

Following all of these delays, demand for homes continues to dominate market headlines.

 

Over 180,000 properties were listed on Rightmove in the last month, with homes selling above asking price doubled from previous figures.

 

 

Stamp duty savings

 

Ending on June 30th, the stamp duty holiday caused a market rush, which meant that asking prices rose at an incredible rate.

 

Having extended the initial savings period once already, the government introduced a tapered end to the SDLT holiday, taking us up to September 2021 with £2,500 available on the first £250,000 of a property.

 

 

Record low interest rates 

 

With interest rates low, more people have been enticed to upsize to bigger, more expensive homes.

 

If you're looking to take advantage of better rates, we'd recommend speaking to a mortgage professional about your options.

 

   

Looking to sell? Book a valuation today.

 

 

 

A guide to your property valuation

 

When it comes to selling your property, it's only natural you want to know all of the facts before beginning.

 

For the majority of us, owning a property will be one of the largest financial commitments we'll make in our lifetime, so making sure that you optimise on its value is really key in order to step further up the property ladder and afford that next dream home.

 

As your leading local expert, we've taken a moment to break down some of the important areas of your market appraisal, so that should you decide to ask an agent to value your property, you'll know exactly what you're getting from them.

 

 

What do we mean by property valuation?

 

A property valuation is an assessment of your property’s value, which takes into account a wide range of factors from the property type and size, to its condition and location, as well as seasonal and national trends.

 

Having a local agent conduct your appraisal can be a really useful advantage, as they'll know the local market and be able to target buyers within that area with the right marketing strategy to generate more viewings for your home.

 

Whilst it's estimated that a seller will have appraisals from two to three agents on average, it's vital that you choose representation based on their service proposition and success metrics, rather than opting for the highest valuation.

 

The aim here is to competitively price your property to achieve the best sale price in the best time frame possible. 

 

Set the price tag too high, and you'll elongate your stay on the market whilst deterring otherwise interested buyers. Set it too low and you'll lose out on its full potential value.

 

Why is it important to get an up-to-date valuation, even when you're not thinking of selling?

 

The market is constantly changing, so whilst you might not be ready to sell right now, it's recommended to keep an eye on how properties are faring near you.

 

If a lot of your neighbours are selling quickly, it can be a really good indicator that you'll be in a prime position to find a buyer at a price and time to suit you.

 

Prices have been increasing year-on-year, so knowing your home's value can also mean that when it does come time to sell and move on, you're already informed and ready to instruct an agent, saving yourself time and energy from the very start of your property journey.

 

Whether you're looking to sell right now or sometime in the future, talk to our agents to find out exactly how much your home could be worth. 

 

 

 

What to do if your home isn’t selling

 

There can be any number of reasons to explain why your property isn't performing on the market as you had expected.

 

If it's left you wondering ‘what went wrong?’, we delve into some of the most common causes that could be preventing buyers from connecting with your home.

 

Your home lacks kerb appeal

 

The outside of your home is the first thing potential buyers see when they turn up for a viewing. 

 

So, there’s no surprise that it can have a huge effect on a buyer’s decision to put in an offer. More than 68% of homeowners say kerb appeal was important in their choice of home.

 

The property isn't viewer-ready

 

It’s important when selling to keep your home looking viewer-ready, as well as to aim for a more neutral tone that appeals to a wider audience base.

 

Whilst it can be tempting to start splurging on new furniture and items for your new house, it can also have a negative impact on viewers if the room looks too crowded and cluttered.

 

The photos don’t do it justice

 

It takes just six photos for someone to decide whether they're interested in seeing more of a property.

 

If the first six photos don't represent your home in the best light, you could be missing out on the opportunity to showcase your property's core unique selling points, so it's worth raising any concerns that you have with your agent as well as making sure that you stage each room beforehand.

 

The asking price could be wrong

 

It's a common misconception that the asking price is behind every single stalled property sale. However, it's important to know where this is and isn't the reason for a home struggling on the market.

 

Having a competitive valuation with a local agent ensures that you are correctly priced and helps you to avoid any delays or complications.

 

Want a second opinion on the price of your property? Our team of experienced estate agents can provide you with a reliable free valuation, visit our website for more information.

 

The estate agent isn’t the right fit for you

 

Your estate agent should be doing all they can to sell your home, including keeping you updated and aware of the progress of your sale.

 

If you’re not happy with the service you’re being given, make sure you bring it up.

 

So, what are my options?

 

If your home isn’t selling, don’t despair. You still have a few options that will enable you to get moving.

 

Contact our team today to learn more about our offering and success metrics in your area.

 

 

 

New to the market in Wavertree

Situated just off Smithdown Road is this three bedroom mid-terraced home on Portman Road L15.

 

OIEO £160,000

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