Nick Goldsworthy, Co-Owner
Logic Estate Agent
Logic was established in April 2009 by Andy Ferguson and Nick Goldsworthy. We sell residential property from £50,000-£1+million and appeal to all markets.
Buyer and tenant demand have been exceptionally high since May 2020 and has seen business levels increase by at least 50 per cent for instructions, sales and lets.
There is still a lack of supply to satisfy the ever-growing demand but as in national reports across the UK we have seen more home movers sell and move on than first time buyers entering the market.
This needs to be rectified by the lenders and Government in providing incentives and reasonable lending criteria to stimulate the most important buyers to enter the market, without which the property market will inevitably falter.
As confidence wavers, so does activity and with the varied and numerous lockdown restrictions we have all experienced in 2020, we all look forward to a more stable and positive outlook for the UK’s health and economy.
One of our specialities is consultancy in land and new homes. Consequently, we have many off-plan developments for sale from a small pub conversion into 9 x apartments in the sought-after Crosby Village up to the largest conversion of a warehouse in the UK – Tobacco Warehouse. Situated in Stanley Dock next to Liverpool City centre is the grade 11 listed Dockside conversion into – 538 luxury Duplex apartments.
Our ‘Investor Guild’ gives our investors exclusive access to multitudes of genuine ‘off-market’ investment property. Every week we source and sell real property investments. Buy- to-let property, land sites, portfolios, buildings for conversion and below market value property with ‘real’ yields or margins.
Finally, completion timescales are the hot topic at present for all. Logic has recently linked up with Breezemove to ensure property sales move swiftly through the conveyancing process. Logic and Breezemove ensure online transparency for all parties, We are looking to break new records for sale agreed to completion and hope to achieve an average of six weeks or less!
Pictured property: Tobacco Warehouse, Stanley Dock
Philip Bartlett, Sales Manager
The preceding three-and-a-half years from December 2020, the property market was relatively quiet from a demand and supply perspective, as the Brexit debate and general elections were in full flow. Property prices remained relatively flat after four years of rapid growth.
Positive start to 2020
The start of 2020 was looking very positive and the next three months the property market was buoyant. However, little did we know what was just around the corner! Lockdown. Emergency breaks applied. Coming out the other side; pent-up demand continued with the added incentive of Stamp Duty breaks up to £500k. A new type of buyer entered the market, those who no longer needed to live in the city and those craving for outside space and an office. Once again placing an upward pressure on property values – especially houses!
Along with increased buyer registrations, supply side started to increase. Lots of flat owners looking to trade up in the main whilst housing supply remained relatively low. This created a two-tier market. Houses in high demand but an over-supply of flats. First time buyers by their very nature cautious in their approach with concerns over the economy, Brexit, COVID-19, etc. making flat sales tricky. Flat pricing in this market needs to be realistic. A very active property market ensued from July to October. With Stamp Duty deadline (March 31st) coming ever closer, more sellers entered the market looking to take advantage to either upsize locally or move out to the countryside.
With the recession announced and the second lockdown, buyer activity waned but the market remained relatively strong. This has created a more of a level playing field with a balanced supply of houses and buyers. The flat market remains saturated restricting demand for houses. With Christmas now fast approaching, seasonal trends normally dictate a slowdown in activity. However, with stamp duty deadline looming ever closer – will this historic trend continue, or will the trend be bucked? We will have to wait and see!
Pictured property: Upper Park Road, Kingston – £2.25 million
WAKEFIELD, WEST YORKSHIRE
Simon Miller, Partner
The last two months since has seen a hive of activity in the Wakefield area, viewing numbers still at a high level even though we are two weeks from Christmas. We have continued to see multiple offers on properties and in some cases offers exceeding asking prices. The combination of pent up demand for properties in Wakefield and for all the publicity and hype behind virtual viewings clients still want to physically view a property to make an offer, 99 per cent of our viewings on a sale side have all been physical viewings. Low interest rates, now at under 1.5 per cent and the Stamp Duty holiday up to £500,000 until the end of March 2021 has made buying property relatively cheap. Properties in the £400,000 to £600,000 bracket have been selling well as those clients look to try and cash in on the current SDLT holiday.
Wakefield continues to be a very affordable place to live bearing in mind the excellent commuter links via road and rail with M1 and M62 and main line to London and Edinburgh, together with its fantastic schools makes it a great place for professionals and families alike.
Given the high level of recent sales the market is now short of available properties, we are also at the end of the year where there are generally less instructions on the market. We have now built up a healthy pipeline for the New Year but the onus is now on the solicitors to try and get these deals over the finishing line whilst the ‘good feel factor’ is still with us.
The lettings market has also seen some great results, particularly with the introduction of video viewings, we are achieving some great rental prices as demand continues to outstrip supply. If you are thinking of becoming a landlord and need some advice please do not hesitate to contact us now and we would be more than happy to guide you through the process.
Throughout the last few months it has been important to carry out our appointments in a safe environment to ensure our staff and clients are kept safe, all viewers are made aware of our COVID-19 policy on viewings. The team at Holroyd Miller are all working out of our offices at Newstead Rd and look forward to welcoming our clients on an appointment basis.
Pictured property: Plot 4 Whitehall Grange – £625,000.