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James Llewellyn is Company Partner at Chamberlains Estate Agents in Moseley and Harborne in Birmingham.


The South Birmingham marketplace off ers a diverse range of property, so demand is always high. Consequently, in the fi rst three weeks of January, we completed 386 viewings for sales and lettings across fi ve offi ces, which span Harborne, Moseley, Selly Oak and Solihull. This resulted in 25 sales. Our average sale price is


currently £180,000, on which we are achieving an average fee of £2,200. Last month, we reduced 15 per cent of stock by an average of fi ve per cent. Birmingham is the largest employer of public sector


workers in the country, so we have been aff ected by the increased uncertainty surrounding job security over the last couple of years, in terms of buyer and seller confi dence. On the upside, we expect to


be positively aff ected by the proposed HS2 route, which we believe will create commuter purchasers in some of the leafy suburbs. We don’t tend to market in the areas, which will be directly aff ected by the construction, so for the time being we view the proposal as a positive move for the housing market and the area as a whole.


Robert King is Director of Waters Edge Homes in Middlesex.


Over the last six months, our average sale price has been £467,000 with our average sales fees between 1.2 per cent and 1.6 per cent and our lettings fee at 11.75 per cent. In the fi rst three weeks of January, we reduced 15 per cent of our sales stock to attract home buyers and investors. We conducted 45 viewings, creating three sales agreements and four new tenancies. We specialise in waterside


property, whether that be on the River Thames, tributaries or the canal system, lakes or coastal. Consequently, our business levels are relatively constant. We also benefi t from the fact that the majority of our buyers are not


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dependant on mortgage fi nance, so fl uctuating interest rates don’t impact them as greatly as mass market buyers. We are busier in the summer, as buyers tend to meander along the river, house hunting on a boat. In recent months, we have seen the dynamic of our potential buyer changing slightly, with more investment purchasers looking to release funds in low performing savings accounts and investing in the more traditional bricks and mortar market place. These buyers believe that capital growth over the next couple of years will out perform any interest rate rises on their savings accounts.


TheNegotiator ● March 2012 ● 25


Birmingham


Average sale price: £180,000 Fees: Sales £2,200


Price reductions: 15% of sales stock by an average of 5%


Viewings: 386 sales and lettings across fi ve offi ces


Figures apply to to the fi rst three weeks of January 2012.


Middlesex Average sale price: £467,000


Fees: Sales 1.2%-1.6%, lettings 11.75%


Price reductions: 15% of sales stock


Viewings: 45 sales and lettings


Figures apply to to the fi rst three weeks of January 2012.


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