Is the buyer still King?

Rightmove have today said that house asking prices have hit an all-time high. That may be so and with a little more raised enthusiasm about the market as a whole I can understand how some vendors and perhaps less experienced agents may become a little carried away!

In Bradleys we are seeing increased numbers of transactions but without exception the only properties selling are the ones with the correct price. There is still plenty of choice for a buyer today and therefore the buyer is still king and if a vendor seriously wants to sell then they must pitch the price correctly as advised by their experienced agent and make the most of high quality marketing through a variety of new ways.

I personally have a very Exeter centred week this week in HO tomorrow before visiting the offices in St Thomas and Exeter in the afternoon. Wednesday I am in HO all day and then again on Thursday HO in the morning to get an update from Jonathan on the progress with our Commercial Department before going back to Exeter for an update on Consumer Protection Regulations from the President of the National Association of Estate Agents.

 

Francis Marshall FNAEA
Managing Director
Bradleys Group

The Price is Right!

The Royal Institute of Chartered Surveyors have released a press report that says sales are up but prices are down.  I was contacted yesterday by the Western Morning News to ask for my opinion on that report and confirmed it was exactly as I see it at Bradleys right now.

 

We have just experienced our best sales week for years and May was our best month for new sales for years as well. Very interestingly though the only properties that are selling are those where the asking price is right. The market is still showing that to attract a buyer the price must be correct in comparison to all others on the market at the same time and in line with those that have previously sold.

 

This is what we have been telling our vendors for some months now and is the reason we are able to find buyers the property they want when they are in a position to proceed.

 

Have a look at the Western Morning News today to see the full story.

 

Francis Marshall FNAEA
Managing Director
Bradleys Group

I'm not going to say I told you so, but...

Remember you read it here first when I forecast that the new Help To Buy scheme would create a demand and also start to increase prices as supply failed to keep up with demand. As predicted the market has started to rally already and with 7 months before the help to buy comes into effect, I strongly urge anyone who is thinking of buying not to wait if you have your deposit right now then take advantage whist there is still good choice in the market and before prices rise.

 

At Bradleys we have just recorded one of our best sales months for several years and long may that continue after such a long period of stagnation in our industry.

 

On Friday I wrote we were celebrating Bradleys 21st Birthday on Friday night. Our BBQ at Head Office went well, the weather was kind and everyone had a very pleasant evening. There was an excited air about the place as many of our best people have already sensed an improvement are looking forward to a good year.

 

Francis Marshall FNAEA
Managing Director
Bradleys Group