“We are continuing to hear reports about the state of the market around the UK and with London prices looking sluggish and the market in the north currently struggling for suitable stock, it’s good to know that here in the South West we are seeing a far more balanced state of affairs.
While it is true that UK house prices have risen at a lower rate than in previous years and concerns over Brexit and stretched buyer finances are still having an impact on property, it is good to see that the local market remains fairly buoyant.
As we enter the summer season the property market is starting to slow down; this is as expected while potential buyers are focussing on their upcoming holidays rather than looking for a new home. But in South Somerset, new homes seem to be the order of the day and are achieving good prices across the area. There is also a good market for first time buyers; lots of people getting on the property ladder it seems!
For anyone thinking of selling, it’s interesting to note that price point is critical. Having the right price on your house will determine how quickly it sells; price it too high and it’s likely to delay a sale, get it right and you’ll see a more positive result. The key here is to listen to your agent and be guided by their advice and local market knowledge.
In Chard they are seeing a good market for semi-detached houses and anything below £200,000 is generally selling quickly. However, they are also getting a number of vendors coming in with price reductions, usually as a result of over-enthusiastic valuations elsewhere. Fiona Laramy, has just joined the team as a trainee negotiator and is settling in well and Geraldine White, Chard’s Assistant Branch manager is celebrating 25 years with us; what an achievement!
Our Yeovil team have noticed that properties in the villages of Norton-sub-Hamdon and Chilthorne Domer are selling well at the moment. Also, the new homes market is strong, with a good level of interest in the recently launched development at Orchard Farm in East Chinnock.
They are seeing a number of non-proceedables (people looking to buy before their home is on the market), and while many like to know what is out there before selling their own, it can cause the market to stall. Our teams are always happy to give advice and guidance to people in this position and you can check out our ‘Top Tips for Selling Your Home’.
The Langport team echo what others are saying and new builds are very much order of the day, selling really well and achieving good prices across the board. Kathy Wilde has recently joined the Lettings team and Claire Crumb is now Lettings Manager, which is fantastic news. The Agricultural and Professional Services Team, (who have been based in Cheapside) will also be joining our Residential and Lettings Teams at the Parade and work is underway to make sure everything is ready for all our services to be based under the same roof.
In Ilminster we continue to have a good level of viewings, but have noticed that buyers are definitely very price conscious and are taking more time to make the right decision. New build demand seems to be at a premium again, so if you see something you like, be ready to move quickly.
All in all there are reasons to be positive about property locally and we are pleased with how many people we have been able to help; either sell their house or find their new dream home. If you need advice, please do give us a call or pop in to one of our local offices for a chat.”