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Housing Market

Regional housing market report: Somerset, Wiltshire and Yorkshire

Each month we visit three agents across the country to discover what is happening in their local market. This month we meet members of The Guild of Property Professionals in Somerset, Wiltshire and Yorkshire.

The Negotiator
Housing market IN WILTSHIRE

Downton - Salisbury - property image

STATS: Average % of Asking Price Achieved: 98.1% Current Client Recommendation Rate: 100% Average Sale Price in Salisbury: £325,000

Jamie Mant - Bassets - imageJamie Mant, Sales Manager
Bassets Estate Agents

Salisbury in Wiltshire, it is fair to say, is definitely on the international map, not only for its stunning Cathedral and Stonehenge but more notably the recent events involving a certain high profile Russian assassination attempt.

Putting this to one side, the Salisbury property market has remained resilient and while, like many other parts of the UK, we have seen a tightening of the market we are still working very ‘hand-to-mouth’ with historically low registers.

With the sheer number of estate agents in Salisbury, competitors over-valuing property and under-valuing fees continues to cause us all a headache although here at Bassets we pride ourselves on giving the very best and sound advice to our clients which has led to us achieving our clients such a high percentage of their asking price.

Property prices in Salisbury are definitely more moderate than in other nearby towns and cities, principally due to the nature of local employment which is primarily public sector. In addition there is a huge amount of new build property springing up all around the outskirts of Salisbury, which we as a high profile local independent agent, would hope will free up the second-hand market.

Proudly being Salisbury’s only member of the Guild of Property Professionals and with a combined 50 years of industry experience, we have become the go-to estate agent in the City for clients across the whole local property spectrum from studio apartments to seven figure country residences.

We believe that actively working across the whole market makes us well placed to offer sound advice on local market trends.

Bassets Lettings is also one of Salisbury’s most active Letting Agents with an ever increasing portfolio of managed properties. The local letting market is still very much the growth area of the industry and with the experience we have to hand we firmly believe we are well placed to overcome the obstacles likely to be thrown at the letting sector over the coming months and years.

Bassets is all about giving the customer the very best service experience, whether buyer, seller, landlord or tenant – and with the sheer volume of repeat business across all areas of our business this validates our beliefs in customer service.

Property: Breamore Road, Downton, Salisbury – £800,000

hOUSING MARKET IN YORKSHIRE
Crakehall - Yorkshire - property image

STATS: Top letting and sales agent in Bedale: Rightmove plus Sales agreed: 31% Lets agreed a year in the Bedale area: 53.8% So far this year. Lets Agreed from instructions: 95% Sales Agreed from instructions: 89%

 

Simon Davies - Norman F BrownSimon Davies FNAEA Bsc (Hons),
Branch Manager
Norman F Brown

Our Bedale office is one of three Norman F Brown offices (the others in Richmond and Leyburn), a firm that is in its 51st year. Bedale is a lovely market town in Wensleydale of the Yorkshire Dales with excellent transport links to the A1(M).

Bedale has a diverse housing stock with modern estates, characterful cottages as well as larger properties with land, prices range from £85,000 for a one bedroom apartment to £1,450,000 for a Grade II Listed period property with 42 acres of land.

The town has a real community feel (we’ve just entered the Great British High Street 2018 competition) and it really does suit all types of people with the younger first time buyers, retired couples and families all attracted to the area for its proximity to bigger towns and cities for employment, schooling opportunities and the lifestyle being in the Yorkshire Dales provides.

The sales market here is very good up to the low £300,000s and then gets tougher the further you go with our specialist area tending to be the mid to lower end of the market up to £750,000.

The lettings business is thriving, we manage over 100 properties as well as having a lot of repeat business from Let Only clients. The market here, like sales, attracts all types of tenants and we tend to see a lot of smaller properties available with one or two bedroomed properties coming up for rent regularly. As a town, we get very few bigger family homes to rent, even three bed semi’s come up rarely, this could be down to the rental returns on offer. The rental market has certainly suffered from a lack of Buy to Let investors providing fresh stock into the rental market, largely down to the extra stamp duty and ongoing legislation changes for landlords. This means that our area is generally reliant on stock from properties in the same rental stockpile becoming available again, mainly through notice being given by a tenant. This obviously causes problems for tenants being able to move to a new property when they need to as there isn’t a ready stock for their needs. 2018 has so far been excellent for us and with 2019 on the horizon, lets see what next year brings.

Property: 2 West Terrace, Crakehall – £335,000.

hOUSING MARKET IN SOMERSET
HOUSING market

STATS: Average Sale Price: £255K (down from £272K in 2017) Average Fee: 1.2% Viewing to Sale ratio: 10 to 1

 

Kevin Prescott - Webbers - imageKevin Prescott, Local Director
Webbers

The West Somerset property market has, once again, proved to be very resilient and we have had a strong business performance during 2018. The South West is one of the top growth areas, on average house prices in the UK, up three per cent year on year. We deal with a real cross section of properties from around £75,000 right up to £2 million with our Fine & Country brand. We appeal to a large number of purchasers from right across the country, many of whom are looking to retire into the West Country.

As proud member of the Guild of Property Professionals and Relocation Agent Network we have access to over 1,300 associate branches and therefore network exclusively with the best independent estate agents across the UK.

In the local market there has been a higher pressure on fees, as competitors have lowered their fees and overvalued properties in order to gain more instructions, typically overpromising and underdelivering. Hence, we are now seeing a much higher volume of price reductions as we move into the autumn market.

We pride ourselves on our Customer Service Guarantee which pledges a personal, professional, honest and dedicated home sale service tailored to the client’s needs. What that means for our customers is that they have complete trust and confidence that they are working with a professional estate agent who works to a high ethical standard always putting their interest first with a friendly yet professional manner. This has helped us maintain strong market share, healthy fee levels and a 4.7 per cent customer rating on Feefo.

I have over 20 years Estate Agency experience in West Somerset and more than 14 years in the Minehead Office, where I have been Office Manager since 2005. I love the varied work that Estate Agency offers. I am very fortunate in being able to work and live in such a lovely area together with working with such a great team of people. I was born locally in Luccombe and now live in Minehead with my wife, two children and a dog.

Property: Clouds, Wootton Courtenay – £850,000 A fine Grade II Listed 4 bedroom detached “Gentleman’s Residence” built in 1925 with a Dutch influence occupying a magnificent setting in the Exmoor National Park.

October 19, 2018

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