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Mon 04 Dec 2017

The current property market

An article by Miles Shipside, Rightmove Commercial Director

The one word I hear most often to sum up the current market is 'uncertainty' and with good reason.  General elections and referendums have been a staple of the last few years and the outcome of the snap election means it's unlikely we'll be waiting five years for the next one.  It's been one thing after another that could cause potential movers to stay put.  On top of that, there's a whole raft of new legislation to get your heads around.  Yet, there are reasons for optimism.

Despite the uncertainty people still want and need to move - whether they're up-sizing, down-sizing or family planning.  Rightmove traffic is at record levels and with Help to Buy available on new builds, interest rates still historioally low and investors holding back after last year's stamp duty changes, first time buyers are getting on the ladder in record numbers.

In this kind of environment, the fundamentals of estate agency are more important than ever.  It's all about getting the right property at the right price.  We're hearing from agents all over the country that properties that are well priced are still selling or letting quickly.  Those that are over priced are struggling.  Our stats show that agents who price a property correctly from day one are 40% more likely to be the agent that ultimately sells or lets the property.  Over to you!