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Philip Jackson is a director of Maguire Jackson in Birmingham
The continuing improvement in Birmingham’s overall PR is boosting interest in the City, while the 10 per cent increase in number of students in the city (now 56,000), particularly international and postgraduates, continues to push the popularity of city centre apartments.
We expect to see our lettings turnover triple in the months ahead, with July to September being the high point in the year. The students compete head on with incoming junior doctors, dentists, accountants, lawyers and other professionals relocating to the City. There is also the regular churn of stock to
keep momentum in the market. The healthy sales market is being boosted by a good investment market; 60 per cent of all our current sales are to experienced buy to let investors. These buyers have caught wind of the six to eight per cent yields that are available and the low voids those properties in the good locations experience. The combination of very
little new stock being built with average tenancies extending to over ten months, are keeping prices fi rm. Owner occupiers too are being attracted back to apartment living by continuing stable prices.
Peter Maskell is a director of Brock Taylor Horsham, West Sussex
Horsham is an affl uent market town in the heart of West Sussex that has recently been ranked in the top fi ve best places to live in the UK, having previously received the same accolade from Phil and Kirsty on C4’s Location, Location. The area has some great schools and is surrounded by stunning countryside, so off ers a combination of town and country living. The area boasts a diverse
property market – from modest £100,000 fl ats to sprawling Country Estates with eye watering price tags. We cover an area extending around 10 miles north and south of our offi ce, encompassing villages, hamlets and the bustling town centre. There is also excellent access to Gatwick, together with convenient road and rail communications to London, Brighton and the South Coast. This means that we have maintained a strong demand for the area both from the local
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market and buyers relocating from London and the suburbs. Because of this the area appeals as much to young professionals as it does to families, commuters and the older generation Since taking over the company
around four years ago, our market share has grown as our turnover has increased fi ve-fold. This year has been our best yet, with a number of offi ce records having been broken this quarter including sales and instructions. So far this month we have continued this rich vein of form and have added to the sales and lettings teams to cope with demand. In the near future the area will change as there are signifi cant new developments under construction from Berkeley Homes and Countryside properties, for over 2000 new homes. There are also additional applications in for a further 5,000 properties which is bound to impact on the area.
TheNegotiator ● August 2012 ● 35
Birmingham
Average sale price £210,000 Average fee (sales and lettings) 1.75% and 15%
% of stock reduced this month and average reduction (sales and lettings) 2% and +2%
Number of viewings conducted so far this month (sales and lettings) 82 and 210
Horsham, West Sussex
Average sale price £262,540 Average fee (sales and lettings) 1.52% and 11.2%
% of stock reduced this month and average reduction (sales and lettings) 5.8% on 18% of stock
Number of viewings conducted so far this month (sales and lettings): 348 and 62
Number of sales and lets this month 26 and 12
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