Even the most
credible authorities tend to disagree on the rate of price change in the
property market, leaving the humble consumer somewhat baffled!
The problem is
the source of data that is used to make assumptions about the market is fickle.
For example, you could look at the latest Land Registry figures. These record
the volumes and prices of sales that completed potentially several months after
the sale was arranged. But a lot can happen in that time – tax, economic data, political
confusion, interest rate changes and media influence can make a vast difference
to buyer sentiment! HMLR figures also include the sale of small tranches of
land in their figures, which can skew the average downwards.
You could look
at the figures supplied by property portals such as Rightmove, which interpret
the relationship between the monthly change in the average asking price of properties
new to market during the preceding month. Of course, average asking prices are
not necessarily a reflection of specific sale prices and these figures do not
take account of any asking price reductions, thereby skewing the average
upwards! (Although at Martin & Co Estate Agents we are proud of how often
we achieve or even exceed our clients’ original asking price!)
As your local
estate agent, we are acutely aware of what’s happening in the Chelmsford
market at a given point in
time. We have a huge responsibility to get it right for our clients first time,
and we take that responsibility very seriously. Ultimately, we find that the
most reliable indicators lie in our ability to interpret the needs and comments
of our buyers at a local level. After all, it is today’s buyers who determine the
current value of your property.
We’re currently
experiencing a healthy level of buyer enquiries, which inevitably results in
some great prices being achieved. So why not contact us for an informal chat
about the value of your property and suggested marketing plans over a cup of
coffee? You might be pleasantly surprised!
