There’s no denying we are currently in a challenging market. UK house annual price growth fell to 4.3 percent in January, down from a year-on-year growth of 4.5 percent in December. On the other hand, lending to first-time buyers was up 8% towards the back end of 2016 so there remains a mixed picture in the housing market. Higher valued properties are cetainly taking much longer to sell.
During a challenging market, there are numerous features buyers consider such as they become much more particular about what the do and don’t like.
If a buyer has selected the area they want, and they know the type and size of the property they need to meet their needs, what factors will affect them making, 1). A decision to view the property, and 2). A decision to buy the property?
Statistically, you are 88% most likely to find the property on the internet, and there’s a good chance the website is Rightmove.
The property is likely to meet the buyer’s requirement for size, location, asking price and then perhaps the way it looks (they might have a preference for a particular style – such as a period property, or they might be looking for something ‘move-in ready’ or conversely something that needs significant work so they can re-style a blank canvass). This is the reason why your marketing needs to be spot on.
Make Sure Your Asking Price is Correct
It’s another reason why pricing is so fundamental in a difficult market. There just aren’t as many quality buyers right now. Mortgages are harder to get, from tougher lending criteria and affordability issues due to the changes in stamp duty and also the tax regime for Buy to Let Landlords. This is creating a situation where stock starts to clog up the market, mainly because agents still have a tendency to value property too speculatively. What makes your property stand out. Is it the condition? The price? The only one of its kind for sale in a desirable location? If not, then why do you think you’ll stand out from your competition (other sellers)?
You have to price correctly to sell within a reasonable time-frame now.
Preparing Your Property – Help the buyer to make their decision
Why not try a home-styling expert to help you prepare your property and make it stand out from the crowd? Surely if you price your property correctly , and it looks great in the photo’s (and in real life too), then your chance of getting the best offer is exponentially higher.
Here’s a home styling expert: http://www.home-truths.co.uk/
It’s worth considering the factors that affect the saleability of your property.
Preparing your property for sale might not cost as much as you think. Why not give us a call and speak with one of our experts?