If you happen to be considering selling your property at the moment, you will be spoiled for choice when it will come to picking the right buyer for your home. We say that because we see demand is at an all-time high, with property purchases in 2017 moving from strength to strength.
At Clyde Property Perth for example sales for 2017 have already reached double figures and we continue to receive instructions to market new properties on a daily basis. In fact, we have just set three closing dates within the space of a week and are currently negotiating offers on a number of other residential properties in and around Perth. (read more)
Another example is Clyde Property West End who have sold 13 homes within a seven day period. Each property received multiple viewings and enjoyed fantastic selling conditions, which is really encouraging for the start of the new year. (read more)
Research carried out by the Halifax has revealed that 2016 saw the highest number of first-time buyers take their first step onto the property market since the crash back in 2007.
It’s estimated by the bank that there were 335,750 first-time buyers last year; the closest we’ve come to the all-time high of 402,800 back in pre-recession 2006. More impressive too is the revelation by Halifax that the average deposit has more than doubled since 2007, now sitting at £32,000. The figures translate into a 7.3% rise last year, and a massive 75% rise over the low first-time purchases made back in 2008 (192,300).
Who Is Fuelling the Demand for Property? Here at Clyde Property, we are seeing increased demand across the entire spectrum of our client base.
1. First Time Home Buyers
First time home buyers are at an all time high since 2008 due to the affordable mortgage rates and we have also noticed a strong trend amongst our tenants to move from rented accommodation and become home owners. And because they were familiar with our services, they came to us for advice – which makes another argument for why an estate agent who does both letting and sales is better equipped to deal with your property.
So when it comes time to sell, there is a large database of potential clients just a phone call away that could be looking for a property just like yours. In fact, 21% of Clyde Property’s sales are generated through our lettings arm, our letting property’s tenants or other investors.
While various Government initiatives including the likes of Help To Buy are no doubt having an impact on the level of first time home buyers, one of the key drivers are the continually low interest rates across the country. Several of the key lenders are offering low rates within 2-3% and therefore offer a great deal for not just first time buyers. A
Although landlords are bracing for the tax changes due to kick off in April – we recently gave advice on how to secure your property portfolio here – there is still plenty of interest from investors, due to the high returns some areas in Scotland offer. Combined with the good financial deals available at the moment, landlords do not look deterred by the tax change and are still looking for the right investment.
3. Home Owners Looking to Trade Up
Demand remains high with other buyers too, who are eager to trade up and take advantage of the great mortgage deals currently on offer. Again, Clyde Property’s carefully cultivated client database means we are ideally placed to find a suitable buyer for your home, sometimes even before your home is marketed on the major online property portals.
And yet this is just one of the many advantages to marketing via Clyde Property. From longer opening hours seven days a week, to dedicated on the ground local property expert agents, to cutting edge technology (MyClyde), we are ideally placed to help you take the next step. So why not contact your local office?
Clyde Property is a leading independent, multiple award winning estate and letting agent with 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today, for friendly, impartial advice on finding your next dream home.