The property market is not rocket science at the moment, it’s all about price.
In 2012 the houses that were marketed at the correct price were sold, but there are plenty that didn’t because the vendors wanted too much money or they had been misinformed about the potential value. This is continuing into 2013 and vendors need to be aware that this is a ‘buyer’s market’. There are plenty of buyers around but they are being very fastidious and even with the lack of stock available, buyers are very concerned about paying too much in an uncertain market.
This year I expect to see an increase in the inflow of wealthy young families into Hampshire, West Sussex and Surrey from London. The schools in the area are much sought after and the quick train links from Guildford, Haslemere, Petersfield, Basingstoke and Winchester will continue to attract commuters, as will the fantastic Hindhead tunnel on the A3. However the main reason for the upsurge is likely to be that prices in London have risen over the last two years whereas in this area they have been relatively static. This has widened the price gap and means that a family moving down to West Sussex from London will be able to get much more house (and garden !) for their money.
An interesting shift in buyers’ requirements became apparent last year. Now we are getting many more clients looking for already-renovated properties, rather than looking for projects. Ever since the huge raft of TV programmes teaching us all to be developers and interior designers, which started 15 years ago, our clients in general have been more interested in buying a house ‘to add value to’ or ‘to give it our own touch’, whereas today this has changed. There are many reasons for this; the economy and lack of job security mean that people don’t want the extra cost and uncertainty in buying a long-term project, it is much tougher to raise finance for this than ever before, and many buyers who have previous renovation experience are reluctant to repeat the ordeal with all its associated hassle and stress. Our clients are often now looking for a house they can move straight into.
Our job at Stacks is to make the house buying process as stress-free as possible, and to secure the best house for our clients at the best possible price. Stacks is the oldest and most experienced buying agency in the UK, the West Sussex/Hants/Surrey office has been finding houses for our clients for over 25 years, which means that our local contacts are second to none. We regularly hear about properties before they are advertised, giving our clients a clear advantage and often enabling them to purchase a house without it even going onto the market.