Hi I’m Sam from Fine & Country, back again with my latest market update. for November 2019
October saw another resilient sales month with plenty of activity in the upper quartile of the market for Fine & Country Rugby. We have been clear market leaders in the sector with 17.9% share of all sales agreed above £500,000 since June 1st, just putting that in perspective, our nearest competitor secured a share of less than half of that with just 7.3%, ensuring that our marketing strategy has been incredibly successful in 2019. Indeed in October we secured a record month for sales exchanged and it was fantastic to help so many sellers and buyers move in time for Christmas which is not too far away.
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So what about the wider market? Despite fairly stable house prices, surveyors reported a sharp fall in activity levels in the September RICS Survey. They reported the same drop in confidence in the spring, but transaction numbers have actually held firm. Weakened surveyor confidence appears to have been in anticipation of the October Brexit deadline, now pushed back to 31st January. Earlier this year we saw a bounce back in confidence after the Brexit extension from March to October. But it seems likely that any similar boost will be delayed until after the General Election in December, assuming this provides a clear outcome and therefore greater clarity.
In short we do have a degree of caution out there, but I expect that to dissipate once the election is over. Indeed I have a stock of sellers who are eager to take advantage of the ‘post Christmas bounce’ that is widely reported by most property websites and its certainly not uncommon for me to launch several houses to the market on Boxing Day morning to ensure that our sellers get the widest reach possible.
I have spoken to a lot of vendors in the last week who have been marketing their homes with our competitors, but have been persuaded by Fine & Country Rugby’s successful year to change to ourselves and launch their house to the market in time for the new year, so we are busy producing property videos, photography visits and producing bespoke strategies that suit those homes.
So if your agent has suggested the market is tough out there or has simply run out of steam, then give me a call and we will look to create a unique plan to get you moved and achieve the best possible price. Remember, if you act now we can prepare your home for the ‘Boxing Day Bounce’
I look forward to contacting you in December as we reach the end of 2019 and look forward to 2020, goodbye for now!
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