So, its February and it’s a great time to recap on what 2016 gave us, took from us and a look forward at what 2017 has in store. Whilst drinking my morning coffee, and munching on a crumbling chocolate cookie (new year, new you fitness regime suffered a momentary loss of momentum) I felt it only prudent to assess the best of 2016. So here goes:
At one point, there were 355 properties being market, in July 2016, which was up from 293 in the corresponding month of 2015, That’s a rise of over 21% in marketed properties. And August followed suit with a rise of over 23% in market properties. But what did that do to prices? Well, by the end of August 2016, compared with August 2015, we saw the average semi-detached house and terraced house prices rise by 23% and 17% respectively and flats rise by 7%. Now that’s good growth year on year.
My experience within Bournemouth BH8 concurs with these stats. There was certainly a feeling of increased property on the market, and that prices had risen but this has meant that owners need to be realistic about what their property is worth to sell it successfully. It has never been more important to ensure accurate and realistic pricing when wanting to sell in good time.
We note that prices have risen in that time, but the rate of the raise needs to be considered when looking to sell as marketing at too high a price while there are a larger number of properties on the market can be detrimental to selling as those around will sell before yours if they’re priced more approximately. This is why I feel it is more important now, than ever before, to be realistic with pricing to attract the buys and not push them away. A property marketed at the correct price, with the correct advertising and using the right medium will result in a successful sale.
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