With years of falling house prices, is the Bitterne Park property market picking up? Kevin Ashley, Director of Southampton estate agency Enfields in Bitterne, gives his view – and offers top tips to secure that sale and get the best price for your home.
2013 seems to have been the year that the housing market started to recover from its slump, and for many potential buyers and sellers this was welcome news. Remember the downturn started in 2008? Since then it’s been five years of falling house prices and a lack of mortgage lending, with many people wanting to move but simply not being able to.
But there’s now a positive feeling again with the banks lending money, the Government’s Help to Buy scheme, and house prices increasing.
It can often be difficult to tell from the reports in the national media if the rise in house prices is relevant to this area, especially with London often skewing those figures. Well, I would say it is. Enfields’ office in Bitterne covers all of SO18 and SO19 (that may not sound like a large area but there are 40,000 + homes in those two postcodes) and in 2012 the average price on all the properties we sold that went on to a successful exchange and completion was £166,184. In 2013 that’s jumped up to £175,710 – an increase of £9526 in a year. This figure is not homes for sale at an inflated price or homes under offer that have not gone through to completion, but is taken from properties that have exchanged contracts and therefore really sold.
Improvement
Currently 58% of the properties we have on the market are under offer and at times last year this percentage was even higher. Prior to 2013 that figure was often around 40% or lower. This demonstrates just how much the market has improved over the last year.
There is also a lack of properties on the market when compared to the number of people looking for a home. We have had many occasions over the last year where we have had several offers on properties from different purchasers and occasionally the offers have gone over the asking price.
Of the areas we cover Bitterne Park is the most popular and it’s easy to see why, with its good schools, the triangle and of course Riverside Park; I predict with additions like the sixth form college this will only continue.
Top tips to secure that sale!
The following are some quick pointers we can offer to help secure that sale – and hopefully achieve the best price for your home:
- Get your asking price right: although house prices have increased it is still important to be realistic about the price of your home; today’s buyers are well educated as to the price of similar properties in the area.
- De-clutter: I know this is not always possible with children, pets and a busy life but buyers want to visualise themselves living in your home and it can be difficult to do that if they can’t even get in the room or see the kitchen work surfaces!
- Spring clean: clean and polish everything from top to bottom. Make it shine!
- Fix it: got a leaking tap or cracked tile? Then arrange for it to be fixed before your property goes on the market. Any problems can lead a buyer to think there may be more problems that they cannot see
- Pets: not everybody is an animal lover so if you can get them out of the way for a viewing this will help.
- Odours: eliminate them! Buyers don’t want to smell a dog bowl full of food, a cat litter tray or last night’s Indian take away!
- Let there be light! Increase the wattage of your light bulbs, remove dark curtains/nets and trim that hedge or tree that’s stopping the light coming in to a room. Bright and cheery homes sell quicker.
- Neutral colours: I know they can be boring but neutral walls and carpets don’t offend anyone.
- First Impressions count, so touch up the exterior of your home. Re-paint the front door, sort that leaking gutter, mow the lawn, trim the hedges, plant some bright flowers and spruce up the fascias. Many buyers drive by before and after a viewing, so don’t let them focus on a negative.
- Listen to your estate agent (hopefully Enfields!) I know agents have a bad reputation, but some of us are experienced and have a proven track record, so it’s worth listening to our recommendations.
Kevin Ashley – Director Enfields Bitterne