WHAT A MONTH!

Written on Tuesday 1st February 2011

On Tuesday night I watched the news and wondered why I should come to work the next day, it was so depressing! Yet when you actually talk to people life does not seem so bad.
Not only has January been an exceptional sales month for Sedge, it has also been an exciting month because of the type of buyers we have been dealing with.
One of the most pleasing statistics for Sedge is the increase in first time buyer activity due to interest rates being at an all time low and mortgage lenders showing signs of more flexibility.
During the last quarter (Nov 2010 - Jan 2011) we have noticed a higher level of first time buyer enquiries and seen quite a few of our properties below £125,000 sell to first time buyers. Whereas for the last 3 years this sector of the market had been sustained by investment buyers.
Not all first time buyers realise what help is out there to get them on the property ladder and when they do we believe even more property sales will happen in this price sector.
We have also noticed more sales at the higher end of the market, £250,000 plus, with buyers who have been sat on the fence for most of last year suddenly committing to buying as they feel now is the right time. This has definitely effected our average sale price as compared to the same quarter last year (Nov 2009 - Jan 2010) we have seen our average sales price increase from £172,666 to £176,642. This is based on private homes that have gone on to complete. So although nationally it is being reported that sales prices are going down it is quite evident that in the Spalding area prices have remained stable throughout the last year.
We are still in a tough property market and we continue to work hard as good buyers are out there, they always have been, we just have to make sure that as estate agents we do not miss any.
All in all January 2011 has been our best January for many years having agreed 23 sales subject to contract!
We are starting February with 9 offers in negotiation and see no reason why it will not be just as positive.

If you wish to discuss any comments made or find out what help is out there for buyers feel free to call on 01775 713888.