Strutt & Parker Salisbury have reported a fantastic summer for property with 4% house price growth throughout the last 12 months.

The average time for a property to be on the market is down one week from last year. With this good news, as one of the oldest Strutt & Parker offices in the UK, the established team welcomed Charlie Evans as their new head of office last month:

Are you excited for your new role as head of office at Strutt & Parker in Salisbury?

“I am really looking forward to joining the office and helping the agency team to go from strength to strength. I worked in London for the last 8 years selling houses, farms and estates throughout Hampshire, Wiltshire and Dorset so I know the area well, but there is nothing like being involved with the local market on a day to day basis.”

How is the Salisbury property market performing compared to other cities?

“We have felt the ripple effect from London and our market here is steady and buoyant. We are seeing more applicants and buyers come from the City looking to cash in on the huge price differential. As well as demand, Salisbury has benefitted from wealth moving west in the traditional demand from buyers looking to take advantage of the superb schools in and around Salisbury. Demand from buyers has particularly exceeded expectation in central Salisbury - the Close and the streets immediately around it are the real hotspots. Out of town Woodford and Nadder Valleys tend to be the most popular with buyers.”

How is the Salisbury property market performing compared to this time last year?

“We have seen a 4% growth in prices throughout the last 12 months, however the market is still extremely price sensitive. Overpriced property tends to languish on the market for a lengthy period of time. As with all property markets, the key is correct pricing and knowing who the buyers are. The average time for a property on the market is down one week from last year. We have even had three properties this month sell for above the guide. One was a lovely residential farm which went for over 10% above the guide, the second a town house in central Salisbury and the third an attractive Georgian cottage.”

Who are your buyers and have they changed over the past 12 months?

“The market is dominated by four types of buyers, those looking for good schooling, downsizers/retirees moving west for better value housing in order to release capital and those simply looking for a dream house in the country. We are starting to see an increase in the number of buyers leaving London. The number of newly registered applicants with a London address is up by 7% in the last quarter.”

What does the future hold for the Salisbury property market?

“For houses priced under £1million, I expect the market to remain reasonably good for the foreseeable future. It is unlikely the election will have a significant effect on this sector. It will be interesting to see what effect the gradual rise in interest rates will have when it happens (my bet is later this year!). Above £2million the market is likely to slow as we approach the election, as there will be the inevitable political sparing with vote winning policies such as mansion tax and stamp duty. This will create uncertainty in the minds of buyers, many of whom will wait and see who is the next Prime minister.”

Your top tips for sellers

“The most important advice I can give is to work with your agent and make sure your property is sensibly priced. The days of buyers paying a premium without being in competition are gone. I would also advise sellers to be well equipped from the outset and instruct your lawyer to prepare the sale pack on the same day you instruct the agent.”

Your top tips for buyers

“When making an offer, make sure you present it in a clear and decisive way. Provide evidence of your financial position (this will be kept totally confidential) and include detail of what you want included in the offer on day one. Use a good solicitor who is proactive and can deal with the conveyance in a timely fashion.”