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 Reading (Berks), Seaham (County Durham) and Windsor (Berks).
David Allen is Director of Nicholas Estate Agents
We concentrate predominantly on the Caversham area of Reading, the north part of the town on the border of Berkshire and South Oxfordshire, selling and letting properties ranging from studio apartments to large houses with several acres of ground. The average sale price of
properties we’ve agreed sales on is just under £380,000 and the average letting price has been £1900pcm with the lowest priced property let at £725pcm and highest at £3400pcm. Our average sale fee is very low at 1.16 per cent because agents are so competitive for the business, but the lettings service is
competitively priced at 10 per cent for the full management. Of our sales stock, 27 per cent
of the properties have been reduced in price this month, by an average of 1.65 per cent. Lettings stock hasn’t been reduced but landlords are being more fl exible. We’ve conducted just over 260 sales viewings and 47 lettings viewings to date (to 24/7), slightly down on June, and agreed 17 sales and 8 lets so far. The last week has been a bit quieter with less valuation requests coming through, and viewing numbers are also down; probably an indication that people are getting away for holidays now.
42 ● September 2012 ● TheNegotiator
Generally this year there have been too few properties available to satisfy the demand but that seems to be easing now that there’s a bit more stock coming to the market. All we need to do is keep getting our share of the new instructions and we feel that the demand will enable us to keep doing good business. As the Caversham area is
popular with executive commuters the current massive redevelopment of Reading station with the addition of 5 new platforms, due for completion in 2015, but already ahead of schedule, is bound to make the area even more popular.
www.thenegotiator.co.uk
Reading, Berkshire
Average sale price £380,000 Average fee (sales and lettings) sales: 1.16% sales, lettings: 10% full management
% of stock reduced this month and average reduction: 27% reduced by average 1.65%
Number of viewings conducted so far this month (sales and lettings) 260 and 47
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