A busy start to 2018
The Apartment Company (and the industry as a whole) have had a very busy start to 2018, which should be encouraging news for local apartment sellers.
Buyer demand has remained robust. From January 1st to mid February, our applicant registrations were up 32%, viewings increased by 47% whilst sales were up 100%, when compared to the same period last year. We’re seeing the highest level of first-time-buyer enquiries we’ve seen in a while, which I think is partly down to The Chancellor’s changes to stamp duty. Therefore, those selling one to two bedroom apartments should benefit in particular at the moment as a result. Meanwhile, new instructions have increased 100% at The Apartment Company.
Various housing reports also note a busy start to the year… Rightmove has noted their own site visits rose by over 9%, averaging over 4million visits per day. Meanwhile the south west ranked second place in terms of regional monthly house price growth – up 1.6%.
Meanwhile, Lloyds Bank recently announced Bath is the fifth most expensive city to own a property - so great news for property owners. This should bring encouraging news for homeowners with a ‘wait and see’ concept, and landlords who wish to reduce their portfolios. Although it means Bath is an expensive place to buy now, it’s important to focus on the long-term perspective… our city has had a good track record of strong house price growth, and there is nothing too alarming going on in the current climate to suggest that that should change any time soon.
As ever, it’s important that you are sensible when selling up, in order to have the best chance of a successful sale. Things to think about include;
Don’t pick an agent offering the lowest fee, as there’s usually a reason why they are. You need to make sure your chosen agent is doing absolutely everything possible to sell your apartment quickly and for the best possible price.
Do your research to make sure an agent is successful at selling your type of property.
Buyers are still price sensitive, so make sure an appropriate pricing strategy is set in place. This will decrease the likelihood of you having to reduce your price in order to attract interest.
Make sure your agent has all the marketing tools to promote your property online and offline. To include professional photography, advertising, PR, virtual tours and good presentation.
And finally, prepare your home for sale… This means it’s vital you have a really good clean; tidy up; de-clutter and fix minor repairs as remember, first impressions count! You need your photographs to look amazing in brochures and online, but your property also needs to have the wow factor for viewings.