New Year….New Market Â Our current buyers tend to be needs-driven and end-user. It is also fair to say that most of them are not first time buyers, neither are they buying a principle property. Investment value still plays a strong part in the light of the fragile market
New Year….New Market
Our current buyers tend to be needs-driven and end-user. It is also fair to say that most of them are not first time buyers, neither are they buying a principle property. Investment value still plays a strong part in the light of the fragile market.
The decision to sell is often more thought over than the decision to buy. Pushing the sell button can be put off by most West End owners almost indefinitely. If the market is rising, holding back may be more profitable in the long term. If the market is falling, sellers can rent out until the bear phase is over.
As a consequence, today’s sellers tend to be motivated by events in their own lives rather than market opportunities.
On a national level, the ongoing assault on private landlords may well help the supply side this year. It will not help the people these changes were designed to help. By piling further costs from tenant to landlord, increasing tax on gross rental income and the additional stamp-duty for buy-to-let landlords, the government will inevitably reduce the number of properties available to rent.
This may bring some of those previously rented flats onto the sales market. Renters will not benefit as it reduces the lettings supply and the marginal effect on sales prices is unlikely to make these units suddenly affordable.
Building hundreds of thousands more flats nationally for sale and build-to-rent, in places where they are needed, is the only answer to the supply side problem.
Here in the West End it is a little too early to tell how the year will pan out. We have registered a reasonable number of cautious but motivated New Year buyers and are taking instructions on a nice collection of flats. The early indications are that activity on all fronts will get into its stride over the coming weeks. I suspect that there are many more buyers out there watching the Websites.
Herein lies the clue to successfully marketing and selling your property. Getting the initial asking price right will get the watchers to call in. Get it wrong and they will simply click on to the next. In this market, you do not want to be listing at a vanity price. Beware the agent’s valuation designed to tease you in.
We can offer the experience, the skills and the knowledge to get the job done.
It all starts with a phone call or an e-mail. If you are thinking of selling this year and want some proper advice from someone who knows, please do get in touch with Rod or I.
0207 240 3322