The current challenges of the property market have been well documented with ongoing uncertainty over Brexit at the fore. However, there are plenty of signs of positivity that, perhaps, have been allowed to slip “under the radar” and which are, in recent weeks, turning into increased levels of enquiries and transactions being agreed. In short, people want to get on with their lives!
As a leading estate agency business with seven physical branches and a huge online presence, we ensure we reach the widest possible audience for our client’s properties and our experienced staff are on hand locally with the skills and knowledge to ensure we turn enquiries into successful transactions.
The reality is that the current number of people employed in the UK is at the highest levels ever and this makes for greater levels of income and is enabling people to consider major financial choices such as moving home.
Inflation remains at a low level and interest rates are also at close to historic lows.
A combination of these factors is seeing the “affordability” issue of buying a home improve.
Of course, the home selling and buying market has always “ebbed and flowed” with volumes and prices rising and falling in line with economic reality and public confidence. It has, however, always been a largely “safe haven” financially and, for most people who own their own property, an investment second and a home first.
People don’t move home every day and it is usually a decision for the medium to longer term. Our prognosis is that, despite some increases in housebuilding, the long-term balance of supply and demand and therefore, value of, property is likely to remain and is therefore secure.
The lettings market is currently seeing an increasing amount of legislation and change, much of which, is seeking to provide tenants with a fairer and more affordable position. However, many of the changes may actually result in a reduced availability of stock and, with continuing increases in demand for housing, we will likely see rents rise, particularly if the balance of supply and demand shifts further.
The challenging market conditions are also taking their toll on those operating as estate agents or “execution service only” brokers – particularly the so-called “online agents”
Cheap fees, paid for upfront (with no guarantee of success) may look attractive initially but those that had instructed Emoov, Tepilo, Hatched and House Network in recent weeks, now that these businesses have all failed and closed, have been left out of pocket as the fees they had paid have been spent and lost.
The old expression that there is “no such thing as a free lunch” is true and I am again reminded of the Red Adair quote that “If you think it’s expensive to use a professional, wait until you’ve used an amateur”.
And Benjamin Franklin famously said: “The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
Our fees are transparent and based entirely on achieving the results our clients seek. We are, in simple terms, on the same side and working to the same goals.
There is no pleasure in seeing others in our industry fail but there has to be a growing sense of realism about the true costs of providing a high quality, professional and compliant services that deliver the results the customer seeks.
Property portal Zoopla recently stated that the five main landlord concerns were:
· 56% said they were concerned about finding suitable tenants
· 55% said they were concerned about tenants looking after the property
· 47% said they were concerned about tenants paying on time
· 39% said they were concerned with keeping up with increased regulations
· 36% said they were concerned about future changes to legislation
All of these concerns are proactively handled and managed by a professional and experienced agent such as ourselves and we provide the “peace of mind” to landlords that their property is being looked after and that their investment is being protected and maximised. For tenants, they know that the property they are renting will be well maintained, safe and, should any issues arise, they will be dealt with quickly and effectively.
The delivery of quality performance and customer service has always been at the heart of everything we do at Sansome & George and, as always, the team and myself are here to help you with any questions and to assist with making your moving plans come true.
We look forward to being of service to you.
David Sansome
Managing Director
