
Our new residential magazine looks at what's happening in your area: ‘If a house is priced correctly, it will sell.'

Our new residential magazine looks at what's happening in your area: ‘If a house is priced correctly, it will sell.'
Last year saw one of our best years for applicants registering and viewing properties in the past decade - up 10% on 2010. The message was very simple: at the right price, buyers will perform. The main area of strength was the middle market, £400,000 to £800,000 for this area. The top end was noticeably leaner, with purchasers who in the past would have traded up, now curtailing their aspirations, realising that large houses require more maintenance.
Numerous properties attracted more than 20 viewings, and one house in particular more than 50. The common theme was correct pricing. For instance, a house first viewed in the autumn of 2010 sold to the same viewer a year later. A house in south Shropshire recently attracted three offers within nine days; another on the Shropshire/Herefordshire borders sold within three days. A number of properties even sold within 24 hours of being on the market, while around 15% of sales never reached the open market, instead being sold quietly to people registered on our mailing list.
Shrewsbury, Ludlow and Much Wenlock once again attracted good interest, as did Church Stretton, with people from outside the area moving into the town. In fact, more than half our buyers lived more than 50 miles from their purchase. Remarkably heartening was that November and December were two of our busiest months of 2011, indicating very much a sense that realism, rather than pessimism or optimism, was beginning to prevail.
This year, we are confident the market will continue in that vein: if a house is correctly priced, it will lead to a sale. Our message to clients towards the end of last year was 'spring starts now', and that message paid off, with good sales being achieved in December. For 2012, again we say don't wait for spring - act now.
Read the full magazine: &homes - West Midlands & Wales