Blog post by Owen Reilly, September 5th 2017
The autumn is upon us – in our opinion, one of the strong selling seasons. We have very positive experience of marketing during the last quarter and, against the continuing backdrop of low stock, we anticipate strong prices and fast sales. The season is short however, and presentation, pricing and timing will be key.
Make the most of the kerb appeal
Well-presented properties will attract lots of interest from potential buyers this season and they will sell fast and achieve strong prices. We always give general advice to clients regarding preparing and staging for sale, and our sales agents always come equipped to viewings with their Mr Sheen. For the autumn market, we also suggest a special focus on exteriors and entrances which can be vulnerable to post-summer drifts of wet fallen leaves but can also look really beautiful in autumn’s vibrant colours. We recommend cutting plants back, cleaning pots and planting up with new seasonal shrubs, trimming edges and sweeping all surfaces – paths, terraces, balconies – clear of fallen leaves; especially around entrances and hall doors, there is an opportunity to highlight the impression of a well-maintained property with polished door brasses and pots planted up to either side.
Price to motivate sales
All Q2 market reports have attested to continuing price inflation and we have continued to see strong prices throughout the summer. During the autumn selling season, we strongly encourage a price point that will motivate sellers and buyers to agree and complete sales in a timely manner. Sales cycles continue to be short and we anticipate they will speed up again once the autumn selling season gets underway. In Q4 of last year we saw an average time on the market of 6.5 weeks overall and 5.8 weeks in Docklands. In 2016 we also saw the strongest prices achieved during the final quarter.
Focus on timing
We suggest autumn is a time for focus; with Halloween and Christmas holidays on the way, buyers are usually strongly motivated to act quickly to agree and complete sales – a great potential advantage for vendors. Added to the mix this year is uncertainty as to how the government’s upcoming 2018 Budget (to be published on October 10th) may affect the property sector: the Help to Buy incentive to assist first-time buyers of newly-built homes may be discontinued; principal private residence relief could either be abolished or amended, or a lower rate of Capital Gains Tax could be applied to any gain arising. On the upside, the long-promised 100% mortgage interest relief for investors may be introduced. Our strategy this autumn will be – out of the trap early…
Blog post by Owen Reilly, September 5th 2017
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