An exciting New Homes Grand Opening

Whilst Francis is still away I have the pleasure of writing this week's blog.  

At the present time I am heavily involved with our New Homes development in Sidmouth at Sanditon House, a scheme of quality 2 and 3 bedroom flats developed by our clients, Zero C. 

We launched the development at the end of last year and because of the superb location (some flats overlook the sea) there was immediate interest from buyers who had been waiting for this opportunity. A number of the units sold off plan and completions have now started to take place.

This coming Saturday we have the Grand Opening. The day starts with the official opening at 11am where Mary King, Sidmouth's 6 time Olympian, will be cutting the ribbon. From 1pm to 4pm we will be showing off the Show Flat and development. Just 11 units out of 29 remain available with prices ranging from £445,000 to £595,000. Why not pop along on Saturday and have a look for yourself?


Michael Dibble
Director
Bradleys Estate Agents

The two ends of the property market

While Francis is away taking a well-deserved break I thought I would give you a feel of the two ends of the property market.  We  have come out of another promising month with some of the strongest sales and exchange figures we have had for some time in the autumn months.

The middle to lower end which is really properties under £650,000 seems to be doing well and in certain parts of the £250,000 and under sector it is really performing well and we have seen some price growth.

However the upper end is still lagging behind, highlighted recently by a property we have just sold.

The property in question was valued at £1.5m in 2008 by 4 agents and each agent over the last 4 years has tried unsuccessfully to achieve a sale.  We were asked to market the house 2 years ago but our valuation was considered too low. We tried again in 2013 and at last the client decided that he would give us his business at the price we have maintained the house was worth.

So after a strong marketing campaign we have finally succeeded in selling the property at a price 45%lower than 4 agents had advised.

In a market where the media  are saying house prices have gone up across the country I am seeing little sign of this in the West country in certain sectors.

We are not trying to knock  fellow competitors as I am sure they will have similar experiences. The main issue is there has not been enough transactions to give good enough comparable evidence to confirm the true value of higher end properties.

We are very fortunate to be able to draw on the experience of  33 managers and staff who like myself spend time studying the markets in their towns, making accurate valuations much easier.

So without trying to be to negative yes houses are selling but accurate valuations hold the key to a successful sale.

Richard Greetham

Director

Bradleys Estate  Agents

So what could go wrong?

I appreciate the whole property industry has had it hard for quite a number of years and we are all due some good news but how much more can we take and how much can we believe? I know most Estate Agents have had their best year in 2013 since a very long time previously and all the signs are good for the next few years. Low mortgage rates set to continue, Help to Buy making it possible for first time buyers to join in, foreign buyers investing in our market and new found confidence in the market has set prices moving upwards in virtually the whole of the country. At Bradleys we have just concluded another month which turned out to be our best month for ages. All sectors of the market had movement and all areas of our business reported good activity.

So what could go wrong? Christmas perhaps? Our annual phenomenon that puts all buyers interest on hold when their thoughts turn to other priorities. Perhaps some inclement weather, let's face it, who would want to go viewing in torrential rain, but what about the Bank of England? they now also have the power to control our market so let's hope we have a mild winter, the Help to Buy does only as it was planned and just reintroduces First Time Buyers to the market place and that Father Christmas brings his joyful effect just to the official 12 Days of Christmas and then the market continues where it currently is. Through all of this, new instructions coming to the market hold the key to what will happen next year. If the supply is slow then prices will rise more quickly, if there is a reasonable amount to satisfy demand then we should just see a sustainable growth which is what everyone wants.

So if you are thinking of selling or know somebody who is then do your research on allAgents, chose the best agent in your area and get on with it because one thing is for certain, prices and the ability to move will never be this good again. To save searching on allAgents just click on www.allagents.co.uk/bradleys-estate-agents/    to read what our customers say about our service and then you will see there is no need to look further than Bradleys with our 33 office coverage from Penzance to Taunton.

If you found this blog useful or you think it would help someone else please feel free to share it or like it.

Francis Marshall FNAEA
Managing Director
Bradleys Group