New year proving promising
CITY estate agents Samuels say their sales results for the year so far fly in the face of some 'myths' surrounding the property market.
While some say the local market remains in recession, there are few motivated buyers around and that it is difficult to get an affordable mortgage, Samuels report their properties are selling quickly for good prices.
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The agents have also revealed there are more buyers registered now than at any time in the last year and that there are many with mortgages agreed in principle, enabling purchase decisions to be made quickly.
Heidi McLaughlin, from the Longbrook Street-based firm, says they have seen sales volumes steadily climb in the weeks since Christmas, with as many as five properties in January alone being sold in competitive bidding situations.
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Overall Samuels' January sales results were better than they have been for four years.
Heidi said: "The shift in buyers' attitudes has been really noticeable, with the number of people registering with us continuing to rise week on week.
"It seems that a lot of people who were perhaps nervous about making the choice to buy have finally given up waiting for things to change and have decided to just go for it."
It also seems as if at last there are mortgage lenders who are willing to actually lend and most importantly at rates that buyers can afford.
"About 50 per cent of our registered buyers are able to proceed straight away and have already given us evidence of their ability to borrow, in an attempt to make sure they don't miss an opportunity to secure their dream home," explained Heidi.
"We have found that appropriately-priced properties in the area are really in high demand with particular interest being shown in the two and three bedroom market up to £230,000. We have several home owners who have been genuinely surprised at the level of activity with one even having more than 25 viewings in a week."
The conclusion is that the Exeter market is not in recession and that properties priced to reflect the current climate will not only sell, but will do so quickly and for a very satisfactory price.
With no sign of rents dropping, buying appears to be making more and more sense to many Exeter people.
There are buyers who are ready, willing and most importantly able, meaning motivated sellers can and will achieve their objectives if they listen to advice from an expert.
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