Why you shouldn’t believe everything you read about the sales market
The national press love to share the supposed doom and gloom of the property market. Whether it is the price of property crashing or a lack of movement, it is rare that anything is shown in a positive light. But at Bidmead Cook we want to tell you to ignore the national press and seek advice from your local estate agency.
Every region, town and village, even every street, has their own micro climate when it comes to property. What happens in one area can be completely different in another. We see this in our branches, which span an area stretching as far east as Cinderford in Gloucestershire, and as far west as Aberdare in the Cynon Valley.
The end of the summer saw a property surge in Wales, according to the Principality Building Society. Tom Denman, Chief Finance Officer of the Principality Building Society said, “We saw a clear bounce back in the housing market across Wales as people continue to take advantage of favourable low interest rates and high employment.”
With the scrapping of the toll charges recently being announced, we are seeing more and more buyers looking to our shores for property, mainly as it is cheaper here than in Bristol, which has seen a rapid rise in property prices over the last couple of years.
Across all our branches we are seeing a strong sales market; we are meeting large numbers of motivated buyers, but we have a major issue: the lack of property coming onto the market. We understand that many potential vendors may be nervous about the market due to the property news and also political uncertainty, but let us share with you some of our recent success stories:
- Ellwood Road, Coleford - We listed this property on the Wednesday and it SOLD in less than 24 hours at the FULL ASKING PRICE of £260,000.
- 3 Duchess Close, Osbaston, Monmouth - We were instructed under a multi-agency agreement and sold the property on the first day that we advertised it. Even better, it was sold on the first viewing for £5,000 over the advertised price.
- Yew Tree Rise, Rogiet, Chepstow - The asking price for this property was £310,000, and what did we sell it for? £329,000, that’s £19,000 over the asking price. The buyers were from over the bridge.
- 25 Linnet Road, Caldicot - Another property sold to buyers from over the bridge on first viewing, and for the full asking price of £175,000.
- Broadlands - Pencoed - in Pencoed we are achieving incredible results. We took on this property with an advertised asking price of £190,000, and sold it later that day for £192,500.
Don’t believe everything you read about the property market; speak to those in the know in your local Bidmead Cook branch. These stories are not unique – just ask your local branch for their recent success stories.