Regional report – The negotiator
SOLIHULL, WEST MIDLANDS
Samantha Dunne, Sales Negotiator
As we move into the last month of the first quarter of 2021, we continue to experience strong demand in buyer activity after seeing a significant increase at the start of the year which appears to be building strong momentum as spring approaches. ! Contributing factors are the maturity of the zero rate portion of the stamp duty of £ 500,000, as well as the low interest rates on the loans. Traditionally, there has always been a good level of purchase demand in the north of Solihull, which is probably due to the fact that the area is more affordable for most, in line with average house prices in the UK. , and in comparison with the price of the property in the South of the district of Solihull. Now more than ever, we are continuously prioritizing and working on acute prospecting for new inventory to meet demand, while also providing support to sellers preparing to sell as confidence returns as a result of previous events in the world. ‘last year.
Currently, we are working on an average of 7-14 days of instructions to under-bid, which could be less in most cases, however, we are looking to allow as many achievable buyers to see as possible by guaranteeing the realization of maximum value potential. It also leaves enough time to pre-qualify buyers prior to viewing – a policy that has been proven to be successful in booking high quality viewing.
North Solihull and East Birmingham are key areas of interest for movers and investors due to the excellent facilities available locally. The best known is the ongoing construction of the new HS2 line and the HS2 interchange station based in North Solihull. Our area is already known for its selection of transport services including Birmingham International Airport, the West Coast Railway Service and the major motorway networks around us, making it a smart choice for those looking to live in suburbs while needing to travel to London, Birmingham or overseas by air.
In all the activity we’ve seen so far this year, in February, we’ve been nominated for the annual Real Estate Professionals Guild Conference, receiving gold for sales and rentals for the West Midlands region and receiving the overall winner in nationwide sales! We are extremely proud of our accomplishment, which is a true reflection on the hard work and care provided by our staff on a daily basis.
Property pictured: 11 Fardon Avenue – £ 400,000 OIEO
Ian Harris, Residential Sales Client Service Manager, Watsons Property
At Watsons, we use the leverage of our premier reputation, six connected offices in our region, and our relationship with the Guild of Property Professionals, to maintain our position as one of Norfolk’s premier real estate companies. We are a multidisciplinary company offering a wide range of real estate services in addition to our real estate agency. The breadth of our knowledge and the crossovers between our departments have helped our clients time and time again.
In recent months, we have seen a growing imbalance between supply and demand. Declining inventory levels and rising demand upon exit from the lockout resulted in a 46% increase in demand for on-hand inventory. In the coming months, the government’s ambitions to change “Generation Rent” to “Generation Buy” have the potential to further widen this imbalance, although it is hoped that potential sellers will be encouraged to list and restore this balance.
However, we believe the overall outlook for the eastern real estate market remains positive. The current market climate has put sellers in a strong pricing position – at £ 302,624 the average price of a property in the east of England is £ 13,700 more than it was. a year. Since the government announced the extension of the stamp duty holidays on March 3, we have seen activity start to increase. Over the past few days, it has also been learned that nearly half of the adult population has received their first dose of the Covid-19 vaccine and that cases in our region are declining rapidly, also increasing the confidence of sellers.
Over the past year, a portion of the population has put aside savings that would typically have been spent on vacation. This, combined with the Covid-19 stimulus activity and the incentives surrounding 5% mortgages, may give increased purchasing power to people looking to move to a home that ticks the boxes on their wish list. ” new normal ”. Norfolk is famous for its big skies, sandy beaches and bustling market towns. As such, it has been a popular retirement and lifestyle destination. The growing trend has been the influx of traditional city dwellers looking for a place in the countryside or on the coast.
Property pictured: Kerdiston Road, Reepham – £ 495,000
Art O’Hagan, Managing Director
As the Managing Director of CPS Property for 34 years with our five branches across the province, we are well positioned to understand the market from all angles, and I can confirm that the market is stable and quite dynamic in the first quarter of 2021. .
The residential market has increased in both sales volume and market value, new homes sell six to eight months ahead of construction programs, and the second home market sells on average within two to six weeks. Real estate prices have increased 4-8% across the board over the past 12 months depending on location. New 1,050 square foot turnkey semi-detached sells for around £ 155,000 in provincial towns in Northern Ireland, same property receives £ 220,000 in greater Belfast, 850 square foot apartments in city center from Belfast sell for £ 230,000. Larger country houses sell for £ 100.00 per square foot typically depending on distance from Belfast and the M1 motorway, which runs across the province.
Rental properties have been a massive part of the market, in high demand due to family protection due to work commitments and couples moving in together rather than moving in as a family. The average rent is £ 650.00 per month for a three bedroom property and £ 1,200 for an impressive apartment in Belfast.
The real estate market was extremely buoyant as expected. Our homes have become our place of work, the school for our children, the last place of comfort in an ever-changing world.
The fact that the family cannot go on vacation, dine out or socialize, the household budget is not as tight, lenders are still very active in the market and interest rates are still at their lowest . My opinion is that the real estate market will continue to be buoyant, growing by 4-7% increase over the next 6-12 months. This pandemic bill will be analyzed and then paid over the next 5 to 50 years – and we are financially responsible.
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Property pictured: Saintfield Road, Belfast – £ 395,000