NOVA NEWS EDITORIAL 10 OCTOBER 2021
The months keep passing swiftly by and no doubt by the time you read this article Christmas products will be being advertised in the many forms of media. Retail will be anxious to claw back our spending money even more now. Prices seem to have gone up everywhere with everything the cost is escalating.
The property market has been no exception to the rule, supply and demand has dictated an increase in prices of over 13% annually throughout the industry countrywide and here in Shropshire there has been no exception. Rural locations have become more highly sought after in recent months and Nova readers will have seen agents articles promoting the desirability of country property over more suburban based homes. Not to say that homes within the towns have not been short of prospective buyers. The majority of agents who I have spoken to report strong interest all around and this is reflected in Nova articles.
Residential property will continue to sell well whilst there is a shortage of supply and whilst the market does tend to pick up a little in the Autumn, Christmas will be looming on the horizon and the supply will fall again. No doubt this will likely result in a limited supply of homes coming on the market until the Spring so buyers should be prepared to sit it out a little longer and not be taken in by over pricing. A previous article I wrote in Nova referred to the difficulty for valuers to get the marketing price of a property right with such high levels of demand. Ultimately it is the buyer who dictates the price by the level of offer which they are prepared to make. It is noticeable on the property portals that there are a greater number of price reductions advertised for both established and new homes.
When marketing your home you will of course require a valid Energy Performance Certificate, some agents include the cost of these within their sales package. Others make a charge, if this is the case it may be worth contacting me to get a quote to see if you are able to save yourself a little money. Additionally if you have changed or upgraded your heating or extended your home then this could lead to a change in the energy rating of the property. I will be pleased to have a quick chat to consider the need for an updated EPC.