2017 has started with some positive interest in the Carshalton property market. Taking a snap sho...
2017 has started with some positive interest in the Carshalton property market. Taking a snap shot of the Carshalton property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the number of properties available to buy, their asking prices and what prices properties are actually selling for.
So when we add in building plots and other types of properties that don’t fit into the four main categories, that means there are 190 properties for sale today compared with 126 a year ago, a rise of 51%.
Next, Carshalton asking prices, compared to the same as a year ago, are 4% higher.
With that in mind, I wanted to look at what property was actually selling for in Carshalton. Taking my information from the Land Registry, the last available six months property transactions for SM5 show an interesting picture (note the Land Registry data is always a few months behind due to the nature of the house buying process and so November 2016 is latest set of data). The price shown is the average price paid and the number in brackets is the number of properties actually sold.
So what does all this mean for the property owning folk of Carshalton?
Well, with more property on the market than a year ago and asking prices 4% higher, those trying to sell their property need to be mindful that buyers, be they first timers, buy to let landlords or people moving up the Carshalton property ladder, have much more price information about the Carshalton property market at their fingertips than ever before.
Those Carshalton people who are looking to sell their property in 2017, need to be aware of the risks of over pricing their property when initially placing it on the market. Over the last 12 months, I have noticed the approach of a few Carshalton estate agents is to suggest an inflated asking price to encourage the homeowner and secure the property to sell on their books. The down side to this is that when offered to the market for the first time, buyers will realise it is overpriced and wont waste their time asking for a brochure. They won’t even view the property, let alone make an offer. So when the price is reduced a few months later, the property has become market stale and continues to be ignored.
Whilst the Carshalton property-market has an unassailable demand for property – there is one saying that always rings true - as long as the property is being marketed at the right price it will sell.
If you want to know if your Carshalton property is being marketed at the right price, send me a web link and I will give you my honest opinion.
For more blogs like these, please visit my URL: www.suttonpropertyblog.com