TheRegions
Regional round-up
Each month we visit three agents across the country to discover what’s happening in their business and local market. This month we’re in Birmingham, Devon and West Sussex.
Katie Harris is a director of Sawdye & Harris
Most interest is coming from cash rich buyers looking at higher value properties that they can put their money into as a sound investment; there is particularly high demand for properties with land attached. Our 1.4 per cent sales fee has been hard to sustain due to fee wars in our area and will be diffi cult to improve upon in the latter part of the year as stock is hard to come by. Some of the larger independents and corporates are drastically reducing fees in order to win instructions and infl ated valuations are rife. Our fair valuations mean that the average price reduction of
34 ● August 2012 ● TheNegotiator
6 per cent is only applicable to around one in 20 of our stock. We are using a huge amount of comparable information to ensure that we are spot on with our valuations from day one to avoid disappointment with our vendors. We have experienced large
demand for letting property with three and four bedroom detached properties letting within fi ve days of fi rst marketing and often with the landlord having the pick of between three or four tenants. Lack of quality rental stock is a real issue in our area although we are seeing several of our managed lets downsizing to
more aff ordable accommodation which assists with the churn. Rental prices have increased by some 10 per cent over the last twelve months or so and therefore very few of our properties are reduced in price. We are achieving a conversion
rate of around 12 per cent of viewers to sales. The fi rst three weeks of June achieved more sales than the whole of March – this can only bode well for the remaining year. Current activity is encouraging and whilst there is no doubt that the market is extremely tough, properties priced and marketed correctly are selling.
www.thenegotiator.co.uk
Ashburton, Devon
Average sale price £266,000 Average fee (sales and lettings) 1.4% and 10%
% of stock reduced this month and average reduction (sales and lettings)
6% on 5% of stock
Number of viewings conducted so far this month (sales and lettings) 55 and 34
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