A local housing market update

As the Managing Director of Abshot Estates, I have seen the Hampshire housing market go through various changes over the years. In particular, the SO31 and PO14 postcodes have experienced a significant shift in the housing market recently. With the cost of living increasing and interest rates on the rise, house prices in the area have fallen, making it an ideal time for buyers to enter the market. For homeowners looking to sell their property, it’s crucial to price your home correctly from day one. With the current market conditions, a property that is overpriced will sit on the market for longer than necessary, which can be detrimental to the sale. As an experienced estate agent, I cannot stress enough the importance of pricing your property realistically from the outset to maximize its potential sale price. In addition to pricing, the presentation and marketing of your property are also essential factors to consider. Professional photos, floor plans, and virtual tours are all tools that can help to showcase your home in the best possible light. By working with a skilled estate agent, they will be able to advise you on how to present your home in the most appealing way to potential buyers, to help you achieve the best possible sale price. At Abshot Estates, we pride ourselves on being a dedicated agent with vast experience in all types of markets. Our agents have worked in the industry for many years and have seen it all before. We take an active, hands-on role in your move, from advising on the correct price for your property, to developing a tailored marketing strategy that will showcase your home to potential buyers.

We also understand the emotional aspect of selling a property, and our agents work closely with you to ensure that the process is as stress-free as possible. Our team provides regular updates and feedback, so you are always aware of how your property is performing in the market.

Some estate agents may choose to overprice a property in the first instance to win the listing. One of the main reasons is to impress the seller with a higher estimated sale price, which can lead to the agent securing the listing over their competitors. Some agents believe that by offering a higher estimated sale price, they can make the seller feel more confident about their property’s value and increase the chances of getting the listing.

t’s not uncommon for some estate agents to try and second guess what another agent may have valued a property at, and then attempt to match the inflated price to win the business. This strategy is based on the assumption that if one agent has overpriced the property, then other agents will do the same to compete for the business.

While this strategy may work in the short term, it can be problematic in the long run. Overpricing a property can lead to it staying on the market for longer than necessary, which can be frustrating for the seller and may harm the agent’s reputation.

Additionally, if multiple agents overprice the property, it can create a false impression of the property’s true value. This can lead to potential buyers becoming disinterested in the property and may result in it selling for less than it would have if priced accurately from the outset.

At Abshot Estates, we believe in valuing a property based on a comprehensive analysis of the local housing market and current market conditions. Our agents have vast experience in valuing properties accurately, and we use a range of tools and resources to determine a realistic sale price. By providing our clients with accurate valuations, we aim to help them sell their property for the best possible price in a timely manner.

Furthermore, we offer a range of additional services, including mortgage advice, conveyancing, and removals, to make your move as seamless as possible. Our goal is to help you achieve your property goals with the least amount of hassle, while ensuring that you get the best possible price for your property.

In summary, the current housing market conditions in the SO31 and PO14 postcodes make it an opportune time for buyers to enter the market. For sellers, pricing, presentation, and marketing are critical factors to consider when selling your property. At Abshot Estates, our experienced agents can guide you through the process, providing a range of services to help you achieve your property goals.

Introductory offer at Abshot Estates.

Introductory offer at Abshot Estates.

To celebrate the launch of Abshot Estates, we are offering a month of fees chosen by you*.

Robin Watts, Partner Agent, will be servicing Alresford and surrounding areas including Bishops Sutton, Ropley and Bramdean. To celebrate, we are offering you the chance to choose your own fees based on the service you receive. Put your house on the market with Abshot Estates during September and you will decide your selling fees.

We know that choosing an agent can be a difficult decision, with many to choose from and varying factors. So, you can check out reviews from some of our existing customers on Google. Please also feel free to get in touch to arrange a coffee and a chat to discuss our services further.

Robin Watts, Partner Agent said: “We are very excited to be working with the Alresford market and confident in the services we offer to our customers. We hope with such a strong offer we can prove our customer satisfaction levels to the new local market of Alresford and surrounding areas.”

This is a limited time offer and will only be available to those selling within the SO24 postcode when the contract is returned to Abshot Estates before 30th September 2020.

Contact Robin today to arrange your no obligation valuation or call for a chat to find out more.

*Terms & conditions apply. First 5 properties instructed in SO24 in September with a minimum contract length of 12 weeks. Contract must be signed and returned to Abshot Estates no later than 30th September. Fee payable on completion. 14 day cancellation fee applies.

So, take advantage of our introductory offer at Abshot Estates.

Contact Robin

A new style of Estate Agency in Alresford

Independent Estate Agent Abshot Estates is delighted to announce the expansion of the Abshot brand to New Alresford The new agency will be covering surrounding areas including Winchester Cheriton and Bishops Sutton....

Bringing a new style of estate agent to Alresford

Estate Agent Alresford.

Independent Estate Agent, Abshot Estates is delighted to announce the expansion of the Abshot brand to New Alresford. The new agency will be covering surrounding areas, including Winchester, Cheriton and Bishops Sutton. Robin Watts, Partner Agent and local resident, opens his office located in Wilds Yard, The Dean this week.

Robin is a well respected Hampshire property market professional with over 15 years estate agency experience. Previously, he has sold some of the finest homes the Hampshire region has to offer. Starting in the industry more than 20 years ago, Robin has worked his way up from Trainee Negotiator through to Branch Manager and now as Partner Agent.

Robin Watts, Partner Agent in Alresford said: “I’m excited to be working in my local town and bringing a different style of estate agency to the area. We pride ourselves on our honesty and customer service levels.”

Abshot Estates offers a bespoke level service with you in mind and a passion for selling your home. Only dealing with Robin throughout the sale of your property, you can expect regular updates and communication. In addition, he will also work with determination to get you the best possible price for your home.

You can contact Robin today on 01962 808264 for more info on the Alresford property market or to book a property appraisal on your home. Please also feel free to visit Robin for a coffee at a safe distance in his new office in Wilds Yard, The Dean, Alresford.

Estate Agent Alresford
Robin at his new office in The Dean, Alresford.

Contact Robin

UK House Price Index 2019

UK House Price Index 2019 released

Published 18 September 2019 from: HM Land Registry

England

In England, the July data shows on average, house prices have risen by 0.5% since June 2019. The annual price rise of 0.3% takes the average property value to £248,837.

The UK HPI shows house price changes for England, Scotland, Wales and Northern Ireland.

The regional data for England indicates that:

  • Yorkshire and the Humber experienced the greatest monthly price rise, up by 1.9%
  • the North East saw the most significant monthly price fall, down by 2.1%
  • Yorkshire and the Humber experienced the greatest annual price rise, up by 3.2%
  • the North East saw the largest annual price fall, down by 2.9%

Price change by region for England

Region Average price July 2019 Monthly change % since June 2019
East Midlands £194,798 0.3
East of England £292,444 0.1
London £477,813 1.0
North East £127,466 -2.1
North West £166,022 1.0
South East £320,454 -0.7
South West £258,602 1.2
West Midlands £199,802 1.2
Yorkshire and the Humber £167,181 1.9

Repossession sales by volume for England

The lowest number of repossession sales in May 2019 was in the East of England.

The highest number of repossession sales in May 2019 was in the North West.

Repossession sales May 2019
East Midlands 51
East of England 11
London 51
North East 84
North West 140
South East 89
South West 45
West Midlands 61
Yorkshire and The Humber 85
England 617

Average price by property type for England

Property type July 2019 July 2018 Difference %
Detached £375,593 £376,383 0.2
Semi-detached £232,963 £231,083 0.8
Terraced £202,253 £200,525 0.9
Flat/maisonette £227,828 £228,677 -0.4
All £248,837 £247,981 0.3

Funding and buyer status for England

Transaction type Average price July 2019 Annual price change % since July 2018 Monthly price change % since June 2019
Cash £233,891 0.2 0.4
Mortgage £256,347 0.4 0.6
First-time buyer £209,289 0.7 0.9

Access the full UK HPI

UK house prices

UK house prices grew by 0.7% in the year to July 2019, down from 1.4% in June 2019. This is the lowest annual growth rate for the UK since September 2012, when house prices increased by 0.4%.

The UK Property Transaction Statistics for July 2019 showed that on a seasonally adjusted basis, the number of transactions on residential properties with a value of £40,000 or greater was 86,490. This is 12.4% lower than a year ago. Between June 2019 and July 2019, transactions fell by 8.5%.

House price growth was strongest in Wales where prices increased by 4.2% in the year to July 2019, down slightly from 4.3% in the year to June 2019. The lowest annual growth was in the North East, where prices fell by 2.9% over the year to July 2019.

See the economic statement.