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Regional report

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 Professionals in Peckham, South London, Bexley, Kent and Wakefield, Yorkshire.

The Negotiator
PECKHAM, SOUTH LONDON
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STATS: Average sale price in the last 12 months: £501,965 Transactions in SE15 last year: 529 SE5 sales bringing in: 499 Wooster & Stock is 1st out of 70 offices for the number of sales agreed in our area.

 

Luke Bishop, Managing Director
Wooster & Stock

Link to Regional ReportBrexit had certainly created challenges in the local market. Until the deadline, buyers were happy enough viewing properties, but many were not ready to commit to a purchase. Some listings were’ therefore’ taking longer to sell, while vendors were understandably frustrated with the market, especially if they found their dream home and were unable to proceed.

Since the election and the New Year our local market has changed dramatically with a 30 per cent increase in new buyer enquiries. Then along came the COVID-19 pandemic with new hurdles to overcome and it is incredibly difficult to predict what will happen. Regardless of that, we have a striking number of new buyers on board and our current agreed sales are remaining committed to their purchase.

A great place to live

Our patch of South London is such a great place to be. It’s vibrant, diverse and well connected. Combine this with stunning architecture, plenty of amenities, good schools and lots of green spaces it becomes clear why so many people choose to settle in Camberwell, Peckham or Nunhead. The average sale price in the last 12 months was £501,965 with the highest value recorded by the Land Registry was £970,000 for a flat and £2,550,000 for a house. There were 529 transactions in SE15 last year, with SE5 bringing in 499 sales and we are very proud to be first out of 70 offices for the number of sales agreed in our area.

Founded in 1991, Wooster & Stock was born and raised out of Luke Wooster’s very own home on Lyndhurst Way, Peckham. One would never have imagined that two and a half decades later the company would be where it is today. Wooster & Stock has become one of the leading estate agents across south London, believing that so much can be achieved in-house to maintain consistently high levels of service. We are always asked about our interesting properties and we are renowned for selling the wonderful homes on Camberwell Grove.

Pictured property: Camberwell Grove, Camberwell – £1,750,000

BEXLEY, KENT
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STATS: Average viewings per week: 45 Average sale price in Bexley: £690,000 Average rental price in Bexley: £1650 pcm

 

Dr. Jak Kypri, Director
Harpers and Co

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Dr. Jak Kypri

Opened in 2013, our Bexley Village office quickly established itself amongst the plethora of other agents and was well regarded amongst vendors who saw us as a breath of fresh air. Determined to stand out, we pride ourselves on excellent customer service, professional photography and a goal-orientated approach. Since then and having won the Gold British Property Awards for the last three years in the Village, our sales and market share improved we morphed into the firm I always envisaged. Now blessed with the most motivated sales staff we have ever had with rewarding results for 2019 selling over £33m-worth of property.

Bexley has 5 star OFSTED award winning primary and secondary schools and an array of architectural styles– a draw for people moving from Blackheath, Central and East London, who want the quiet charming nature of a village and the excellent train line.

Our property stock has widened from 1930s semis and Victorian properties to larger Edwardian, Georgian Estates and select high-end estates. As a result of our branding and unique approach, we attract the higher end of estates between £1 million and £3 million.

Uncharted territory

January, February and Mid-March 2020 started well with sales up from previous year 19 per cent and the average house price sold by us up from £451,000 to £690,000, the COVID-19 Pandemic, government lockdown and government guidelines have brought us almost to a juddering halt. Working remotely, our staff liaises with all their customers regularly to continue the levels of service and nurse through our existing sales and rental pipeline. Optimists claim we will all be working from our branches again by May, whereas the pessimists talk of stasis until Q3 and even Q4 and beyond. One thing for certain is that when business resumes (and it will), those who embraced the challenges will be best placed to be at the front of the curve of recovery. Beyond this, predicting any upturn is less clear, all we can do is to learn from these times, rationalise our operations, continue investing in our staff and streamline decisions vis-à-vis advertising, portal spend cost-cutting measures. These challenges aside, our glass at Harpers & Co remains half full…not half empty.

Pictured property: Parkhurst Road, Bexley – £1,150,000-£1,200,000

WAKEFIELD, YORKSHIRE
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STATS: Average rent: £625PCM Average Holroyd Miller sales price: £267,000 Viewings arranged in March: 376

 

Simon Miller, Partner
Holroyd Miller

Link to Regional ReportWakefield had seen a great deal of optimism and purpose in the property market since the start of the year with Holroyd Miller opening its fabulous Property Hub at 4-6 Newstead Rd, Wakefield offering its clients free on-site parking and unique customer experience with all the HM team in one place.

With low interest rates and banks offering some great lending deals, combined with affordable prices, the local market was looking good for 2020.

Wakefield benefits from excellent commuter links via rail and road giving great access to Leeds, Sheffield, Bradford or Hull together with great rail services to Leeds, London and Edinburgh. Wakefield’s well-regarded schools continue to attract a great deal of attention from clients from outside the area with QEGS, Girls High and Silcoates being the ‘go to’ schools.

The show goes on!

2020 had seen the second-hand housing market start with a flurry of great new instructions that, fortunately, were selling quickly – particularly up to £300,000, new builds were also seeing a great deal of interest, with the upper reaches of the market seeing more attention than latter half of 2019.

The lettings market has also seen an uplift in rents over the last twelve months and activity and demand high for quality homes in the prime locations around Wakefield.

As March 2020 drew to a close the effect of COVID-19 was obviously going to impact the market, Holroyd Miller chose to close its offices on the 24th March and enabled its teams to work from home.

The teams continue to offer a fantastic level of service and thanks to The Guild’s excellent online offerings including video-ettes and virtual viewing facilities we can continue to market the properties affectively, in fact, we have continued to let and sell in these uncertain times!

Pictured property: Watersedge, Hill Top Rd, Newmillerdam on the market at £795,000

June 23, 2020

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