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What’s going on in: Chertsey, Stokesley and East London.

Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we meet members of The Guild of Professional Estate Agents in Chertsey, Stokesley and Stratford, East London.

The Negotiator
CHERTSEY SURREY

Chris Page, Hodders, imageCHRIS PAGE, DIRECTOR
Hodders Estate Agents

Hodders has been successfully selling and letting properties since 1957 and has rapidly grown over the last few years to cover the local towns and villages surrounding Chertsey, Addlestone and Egham. As members of The Guild of Professional Estate Agents and the Relocation Agent Network we ensure high standards are delivered. Our passion for results, combined with an approachable straight talking, honest and helpful attitude has established us as one of the most effective estate agencies in the region.

Chertsey, Surrey, image

STATS: Average sale price: £477,584 Average rental price: £1,400 Average viewings per month: 800 per branch

Post Brexit we initially felt the impact of buyer and seller uncertainty – coupled with the summer season it felt, briefly, ‘here comes 2008 all over again.’ Fortunately the doom and gloom was short lived and we are registering good numbers of applicants who have a limited choice and as a result house prices are in the main remaining strong.

This area of Surrey is very resilient based on the motorway network and rail links into London, particularly in the areas that surround our four offices. Serving London and the airports as well, the quality of life that leafy Surrey can offer proves popular.

Addlestone is receiving widespread interest from both UK and overseas investors as a major redevelopment programme of the town takes place with an exciting new shopping centre with a cinema being built right now! There are a further 200 houses being built at Aviator Park and a substantial new site of both industrial, office and new homes space starting this year in Longcross.

Chertsey continues to bring interest from buyers who initially considered nearby Weybridge but feel Chertsey offers more value for money. Chertsey has the feel of a old English market town with historic buildings, a close knit community and great schooling. Egham is a diverse town with the internationally renowned Royal Holloway University of London, with 10,000 students!

Runnymede Borough Council has ambitious plans that will add further benefits to what is already a fantastic place to live. For families the local schools are all in the upper quartile of the OFSTED reports. The borough is surrounded by more expensive locations: Windsor/Weybridge/Virginia Water so we can be confident that we will continue to have sustained growth in the coming years.

STOKESLEY, NORTH YORKSHIRE

John Newhouse imageJOHN NEWHOUSE, MANAGING DIRECTOR
Roseberry Newhouse

Roseberry Newhouse is an independent estate agency with three offices in Stokesley, Yarm and Norton covering residential sales and lettings in the Teesside and North Yorkshire area. We are expanding our network with two further offices planned before the end of 2016. With 30 years experience in the property market and family history in the local area, the business was set up by Managing Director, John Newhouse in 2005 and has grown to be one of the most respected brands in the area with a reputation for customer service and innovation.

Stokesley, North Yorkshire, image

STATS: Average Property Price: £330,000 Number of Viewings to Sale: 9 Average: 98% of Sale Price Achieved

Stokesley is a Georgian market town at the foot of the Cleveland Hills and North Yorkshire Moors popular with families, retirees and buyers wanting a quality of life in the country. Whilst Teesside often receives uncomplimentary press it is a fabulous place to live with a variety of amenities including; quality primary and secondary schools and private schools, access to the North East coast, rail links to London within two-and-a-half hours with either Virgin East Coast or Grand Central and of course a Premiership football team already providing dividends, particularly in the rental sector.

We sell and let a wide variety of property ranging from stone cottages in the villages, apartments set in acres of communal grounds, farmhouses and country houses and modern family homes with access to local schools and the High Street. We typically charge fees of 1.25 per cent. Our average lettings price is £850pcm with a full range of managed and let only services.

The market has remained predominantly stable in recent years with price increases based on strong demand for a limited supply of quality property coming to the market. The main reason for home move has been based on need rather than aspiration and despite a three week post Brexit lack of confidence the market remains healthy and our average sale price is 98 per cent of asking price. The key factor for successful selling is honest and accurate valuation. The lettings market is very buoyant with a shortage of availability and an ever growing level of demand especially for property in the £600-£1000 pcm sector. Supply is unlikely to increase with stamp duty changes effecting buy-to-let purchasers.

STRATFORD, LONDON

Diana Solden, Victor Michael, imageDIANA SOLDEN, HEAD OF BUSINESS DEVELOPMENT
Victor Michael

Stratford, the evolving new mini city, its neighbour Canning Town and the developing areas such as City Island, Royal Docks and Isle of Dogs, Leytonstone and Woodford Green with their traditional period properties and Epping Forest are only few of the areas where Victor Michael is proud to have been part of the community, as an independent local estate agent for the past 30 years.

Stratford, London, image

STATS: Average House Prices: Two Bed Flat: £241,662 Semi Detached House: £434,540 Detached House: £722,442

Victor Michael has worked through many changes, including the financial crash of 2007/2008, which resulted in today’s London residential property market – a combination of factors have help boost the property sales, severe housing shortage, population growth, more lenders coming back, overseas investors and high returns. The urban investments and infrastructure projects such as Crossrail are adding value too.

Post Brexit the property market was very uncertain, but overseas buyers are taking advantage of the current exchange rates, which have given savings of circa 10 per cent. We have seen a 30 per cent increase in overseas buyers and a lift in the current market, with more sales being pushed through by the overseas investors.

Now, with a 0.25 per cent reduction in bank base rates, there are positive attitudes from both sellers and buyers; first time buyers and investors are starting to buy again. The average sale takes around four to six weeks, down by two to four weeks comparing with the pre Brexit period where the sale market was booming and an average sale took around eight to ten weeks up to completion.

Our New Homes Department has 700 properties in around the City of London and we are confident that the market for New Builds has remained strong. The agreed sales prior the referendum still went ahead and new enquiries level have been stronger than ever from the local market and overseas investors. We feel that the market in certain areas will wobble for a bit longer than expected but overall it won’t suffer as much as some predicted, people will still need to move on, whether they sell or buy.

Most of our business is from recommendations and repeat business, demonstrating our high calibre of service designed to meet all clients’ needs. Clients – ‘old’ or ‘new’ – often rely upon us for our honesty and expert advice whether they’re buying, selling, renting or letting. As a local established independent Estate Agent for circa 30 years, we are proud to be members of the ARLA, NAEA and RICS and provide a professional and friendly service.

October 17, 2016

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