
Our new residential magazine looks at what's happening in your area: 'Realistic pricing continues to be vital.’

Our new residential magazine looks at what's happening in your area: 'Realistic pricing continues to be vital.’
Last year saw a challenging but rewarding property market in our area. Although far from easy, we found there was a perfectly respectable market for all types of property, provided they were realistically priced. There were many sales throughout the year where, having quoted a sensible price from the outset, competitive bidding ensued between a number of parties, leading to a very satisfactory selling price. A classic example of this was Mill Farm, Dumbleton, which came on to the market last September with a guide price of £2.5 million. There were 43 viewings in three weeks, six bidders and a final sale substantially in excess of the guide price.
Another key feature of the market last year was the lack of traditional seasonal pattern. Usually, activity is at its peak in March to June, and September to October. Last year, however, saw a much more unsettled pattern, with varying peaks and troughs. July, generally a particularly quiet month, was especially busy; November, too, proved excellent in terms of sales agreed.
Looking ahead to the coming months, we expect to see a similar market to last year. This is still one of the most desirable parts of the country, thanks to unspoilt countryside and excellent communications, but realistic pricing will continue to be vital to the success of a sale. In a fragile market such as this, it is all the more important to ensure that sellers are fully prepared before going on to the market. This entails both paperwork - check that your solicitor has all the documents they need - and presentation. Minor cosmetic improvements can help, but remember that it's all about first impressions: don't spend money renovating a bathroom on the second floor; repaint the front door or put down new gravel on the drive instead.
Read the full magazine: &homes - Cotswolds and The Midlands