During 2015, we had a very busy year in Fleet indeed, with over 40% of our sales being four and five bedroom properties. Prices rose gradually during the year and price rises within the region ranged at an average of 10%.
However, the amount of property coming to the market has been deemed as low overall, with more buyers than sellers, especially from those from London, attracted by the many benefits including a better quality of life, good schooling, and commuter links.
A number of homeowners were frustrated with the lack of property choice. Managing the expectations of the buyer is the key and the quality of buyers we have had are patient enough to wait for owners to find something suitable to move onto. In essence, to find a property, you need to get your own sold first or at the very least on the market, then the likelihood of finding your next home will become a reality. We have had many instances recently when this has been the successful formula to moving.
Upsizing movers however, have benefited from low interest rates and downsizers from high property prices, freeing up cash flow to put to good use elsewhere.
On the sales process side, we saw an influx of solely online based property agents that in many cases lack the manpower, local knowledge and experience to progress property sales. Due to the problems our clients have experienced with them, we would always advise local sellers to investigate the sales progression element when considering such an agent as this could cause delays and complications further down the sales process.
Looking at this year, I think it will follow a similar pattern to 2015 with demand for properties pushing prices up in 2016.
The impending tax on second homes in April will do little to dampen the spirits of investors and landlords, but may lead to rental increases in the long term, as those investing seek to cover their costs on the initial purchase.
If you would like to discuss the market place and what is involved in selling or letting your home, please contact us on 01252 812121 or email@example.com .