What's happening to the Local Property Market?

January like you’d imagine is often a strange month and is never a good indicator of the year to come, although we saw some positive signs of the market ‘warming up’. February is proving to be better still, so is perhaps best described as a ‘simmering’ market.
In general, prospective buyers and sellers for that matter, are commenting on a lack of property choice as one reason for not committing to a sale or purchase. In truth, I suggest that those flirting with the market are being more particular about their choice of move and don’t feel under the same pressure that buyers and sellers felt during 2015 and early 2016.
Activity within our own office this year has brought a number of ‘potential sellers’ who, with the confidence of seeing something to move to, would quickly move on to the next stage. Without giving too much away, the following is an example of properties we’ve valued ‘bubbling’ under the market, where the owners are looking locally.

- A couple from Thorley Park with a spacious 3 bed end of terrace, estimated around £350,000 want a larger 3 to 4 bed house in Bishop's Stortford for a growing family and would have a budget approaching £500,000.

- A lady with a large 5 bed detached house in a select and established cul-de-sac estimated around £675,000 is seriously considering downsizing and has particular interest in a high quality local retirement apartment.

- A young family with a well presented 2 bed semi (with plans passed to extend) and worth around £320,000 now want to step up to a local 3 bed house nearer the £400,000 level. 

- A family of 4 with a Thorley Park 3 bed semi, do have some interest in their own from us already, but they can't yet find a detached house in Bishop's Stortford with parking for at least 3-4 cars, even with a budget of over £550,000.

If your property sounds similar, or your simply looking to sell, call us now to arrange a FREE valuation! 

01279 505055                     sales@lednor.co.uk                 www.lednor.co.uk