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Despite many obstacles being thrown in the way this year, namely George Osbourne’s Stamp Duty Hike for second homes and buy to let purchases and the Brexit vote, the local property market still remains very buoyant.
The 1st April increase in Stamp Duty for buy to let and second homes saw the level of buy to let purchases drop significantly. However, this gap has been filled by first and second time buyers, which is good for the health of the local area. We have seen significant price increases at the lower end of the market, due to continued good levels in demand and a shortage of supply of property, the latter appears to be a national trend.
We at Shoulers have experienced an above average level of transactions since the July summer break. One noticeable trend has been that new properties to the market are generally selling in days or very few weeks and are achieving their asking price or very close and in some cases properties have more than the advertised guide prices. We cannot say that this has been the same for all of our competitors, but the key to achieving a sale within a sensible time frame is realistic pricing.
We have many years’ experience in the local property market and in fact our Residential Partner, Simon Johnson, has worked in the property business throughout Leicestershire for 29 years, 17 of which have been with Shoulers in both Melton and Rutland.
If you have property or land that you are considering selling and want sensible professional advice please give us a call on:
01664 560181 opt 1
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