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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 Property Professionals in Swindon, North West Wales and North Somerset.

The Negotiator
SWINDON
Swindon house image

STATS: Average price for let properties over the past year is: £973 Average exchange price is: £295,000 How many transactions in past four months: 45 sales and lettings

 

Will Gidney - Home Finders - imageHOME FINDERS – SWINDON
Will Gidney, Property Consultant

Swindon’s property market has been on the rise in recent months, with the average house price in the town reaching £267,000 in 2022, according to Rightmove. This marks a 6% increase from the peak of 2020, as the market recovers from the pandemic. However, data from the Land Registry published in January 2023 shows that prices in Swindon are still down 20% compared to the rest of the South West. This presents an opportunity for buyers to get more for their money in the town, which is expected to see a strong demand in the coming months and years.

One of the factors driving this demand is the influx of employment opportunities and additional investment in the area. This is attracting more professionals and young families to the town, further increasing the demand for housing. Additionally, new-build developments are being brought forward, helping to keep up with the growing demand.

As a local estate and letting agent, Swindon Home Finders is well-positioned to take advantage of this market. We are a boutique local agent that specializes in local investors, property management, lettings, and sales. Our team of highly-qualified property experts has unparalleled expertise and experience in the local housing market, making us the ideal partner for landlords, home seekers, and sellers.

Fast completion advantage

One of the key advantages that sets us apart from our competitors is our fast completion times. According to The Guild’s market analysis, our time to progress from Sold STC to Completed is an impressive 102 days, which is a full month faster than the largest local and online agents in the area. This means that we can help our clients to secure their desired property much faster than our competitors.

Furthermore, our average price for let properties over the past year is £973, which is in line with the local market. Our average exchange price is £295,000, which is £30k over the area average, demonstrating our ability to secure the best possible price for our client’s properties.

In the past four months of business, we have made a total of 45 transactions between the lettings and sales sides of the company, which is a testament to our success in the local market.

Featured property: Lyall Close – £600,000

NORTH WEST WALES
North West Wales property image

STATS: Average time on sale is: around 10 weeks Average sale price: £255,051 Average Rent: £733 pcm exclusive

 

Melfyn N Williams - Williams & Goodwin imageWILLIAMS & GOODWIN THE PROPERTY PEOPLE LTD
Melfyn N Williams, Director

The local property market has returned to normal. Following the frenzy of post pandemic market activity, the property market in North West Wales remains resilient and whilst demand has cooled, it remains for sensibly priced property.

Seasonal activity will no doubt impact any figures presented over the first quarter of 2023, with the traditional quieter months following December 2022 into January and February, then the Spring market that typically takes off once the clocks are turned towards the end of March. The best agents will use this time for training and planning their marketing activities to ensure their brand remains at the forefront of people thoughts when they decide to move. Interestingly market appraisals are rising as the weeks go by with an intent to place properties on the market towards Spring.

Market confidence

Directly affecting the local market at the moment is, to a degree, confidence – as unbalanced media reporting appears to thrive on negative news that can have an effect on people’s mindset. Regardless of any economic marketplace, people will still need to move, the population continues to grow and in the short to medium term we believe inflation will come under control which will ease pressure on lending costs and interest rates.

Our estate agency is a modern forward-thinking firm with strong traditional values of great customer service, we want to help people move, to help people find a home be it for their family or business. Technology entwines with experience and knowledge, and our team of property professionals thrive on achieving results in an environment of helping each other to succeed. We offer sales and lettings together with a property management department and an agency for the Principality Building Society at two of our locations that are set in prime sites. We also specialise in the sale of land and property by traditional auction, both in room and currently predominately online, and often get asked to provide solutions for people with ‘problem properties’.

Featured property: Bangor, Gwynedd – £165,000

NORTH SOMERSET
North Somerset property image

STATS: No. of new sales agreed past 4 weeks Average time on market: 3.5 weeks Average selling price: £625,000

 

Andrew Simmonds - Parker's Estate Agents - imagePARKER’S ESTATE AGENTS AND COUNTRY PROPERTY, SOUTH WEST ENGLAND
Andrew Simmonds, Owner

Home working and flexible working contracts are now having a tangible effect on the housing market in the South West. The impact is noticeable in two ways – firstly on where people want to live and secondly on the type of home that they want to buy.

The steady flow of people wanting to leave London to live in the West Country rural areas has continued. The ability to work remotely has increased the appeal of the Cotswolds and rural areas North and South of Bristol in particular, as it is possible to be within easy reach of the city of Bristol, live in a rural area and work for London businesses.

Recent rail disruption has maybe highlighted that transport links to London may not always be as reliable as people thought but most are taking a longer term view and seeing that disruption as an irritation rather than a reason not to change lifestyle.

Versatility of space

Home design is now also a major part of the decision process. Working from home is not good if you have a laptop perched on the kitchen table or on your lap in the lounge. Homes with a spare room that can be converted into a dedicated office or a garden room or the potential to convert a room into the office are now gaining greater interest and fetching better prices and selling faster. We are also seeing that filter through to new home designs among developers, who are also very active in the area with new planning applications and starts on site.

There are some signs of a move back into the city in Bristol. Again, home working and flexible working is driving the change. The closure of city centre offices and retail outlets has provided the opportunity for conversion to residential and many of these schemes are proving attractive to those who want to live closer to amenities and enjoy a car-free lifestyle walking and cycling to cafes and theatres and spending their working hours in their apartments or homes.

Among those with young families, the reputation of the local school continues to have a major effect on the housing market in individual towns, villages and in different districts of the city. A change in an OFSTED rating can see a rise or a fall in enquiries in a particular area very quickly.

Featured property: White Cottage, Flax Bourton, North Somerset – £650,000

April 15, 2023

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