Realistic pricing of stock means we can use our expert knowledge to create interest which can in turn encourage competitive bidding, and often a higher price.
We advise sellers to consider the longer term. Some people have owned a property for 20 or 30 years and over that period will have seen a huge increase in value. If you take a 10-year period, a property would have appreciated in price, but it’s no secret that Brexit caused values to drop and they are only now climbing back up and, in some cases, may well have gone beyond where they were. The number of £5million plus properties going under offer increased by 20% in the first quarter of this year and sales at the top end are set to increase again in Q2 according to property data provider Lon Res.
Around 70-80% of our buyers are proceeding with cash which means they are not dependent on a mortgage so for us it’s more about looking at exchange rates, not interest rates, for values. We’re predicting a very positive outlook this summer with a further increase in overseas buyers. Demand will still outstrip supply, and in the long term interest rates will fall and a drop in inflation will follow in the next 6-9 months. We think it’s a good time to sell a property.
