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12 January 2018

King West

A Commentary on the Country House Market

The past year has shown a two-tier market, those houses that are well presented and correctly priced are, on the whole, achieving sales. On the contrary, those that are put to the market with even slightly inflated prices, are attracting little interest. These properties struggle to sell and invariably achieve a sale below expectations as the market, quite rightly asks “why is that house not selling?”

Despite the continuing economic and political uncertainty people still need and aspire to move – whether they are upsizing or downsizing. With interest rates still historically low, particularly for long term fix rate mortgages, those seeking a family home for the next 20 years are on the whole, brushing concerns aside. It is our view that a correctly priced property stands 40% more chance of selling in a reasonable time period than one that is overpriced. Many home movers are telling us that Brexit has had no impact on their decision to move. Therefore, with the desirability of our locality, it is not surprising our list of potential purchasers ready and willing to move home continues to grow, albeit, such people have become more discerning in the last few months.

We continue with a positive attitude toward the growth of the East Midlands economy, our prime market place. Indeed, in the past year, we have been successful in achieving sales on a number of notable houses in the area.  Our predictions in this review last year have largely come to pass. There has been a notable decrease in a number of London based potential purchasers looking in the area. However, this deficit has been more than buoyed by the strength of regional purchasers who, on the whole, are looking for an epicentre for their family for the long-term. Our continually strengthening position within the digital marketing landscape has seen us invest further in digital communication across a variety of platforms. Digital messaging creates awareness of the properties which we are marketing, in places where potential purchasers are spending their leisure dwell time.  Unlike other agents in the region, we continue to see results of advertising in a number of traditional property platforms. Significantly, in the past few months, this has resulted in significant press commentary in Country Life magazine.  Specifically, we are targeting regional life style magazines which provide a specific role in reaching potential purchasers. 

If you are looking to move- buying or selling, contact either of our offices and we will be delighted to assit you with a market appraisal of your property or a discussion around your requirements for a new home. Call Market Harborough on 01858 435970 or Stamford on 01780 484520.

Stephen King

sjking@kingwest.co.uk

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