Tuesday, 11 April 2017

Property prices are on the up, but it’s not all plain sailing, so make sure you do your homework!

It’s official - property prices are on the up. As if we didn’t know… especially if you’re trying to buy one locally at the moment. Rightmove highlights the West Midlands as showing the UK’s greatest monthly increase with a whacking 2.1%, but on the ground here in Stourbridge, there’s a story to tell.


Our tale is one of exceptional results seeing offers often outstripping asking price where multiple buyers chase the same property. So the good news is that when you come to market, you are likely to sell more easily and at a higher price than last year. Looking at the statistics, it would seem that new instructions over the first quarter of 2017 are 15% down on the same period last year. Continuing Brexit uncertainties, a late spring Easter, plus the ‘chicken & egg’ effect of fewer properties coming to market are all potential factors that are holding otherwise willing vendors back and contributing to localised property inflation. 


Is there an answer? Yes of course and it starts with taking sound professional advice in establishing the right asking price for your home and prepare for going to market, to the extent of having photos and brochure prepared in readiness. The agent will be prepared to ‘go live’ instantly you see a home with your name on it and might also quietly line up prospective buyers from their own priority purchaser list to pre-empt any delay should you so wish. And don’t forget to check out the best mortgage deals, which are currently at a record low, through an independent mortgage adviser. You’re on the starting blocks.


It’s tempting to be led by the headlines surrounding an overheating property market, but buyers are an intelligent lot and won’t be fooled by prices that are set at unreasonably high levels! Nor will the estate agent quoting highest price and lowest fee result in the best outcome. Finding the right buyer is only the first important step of your journey, but at the moment, instructing the best agent who has advised you throughout and will fight your cause from start to finish and only be rewarded on results is always going to bring about the happy ending that you want and deserve.