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16Apr

Time to Spring into action? 

 

The decision to extend both the stamp duty holiday and the furlough scheme, as well as the new guarantee for high loan-to-value mortgages, have played their part in reducing uncertainty and boosting confidence. 

 

Add to that the easing of lockdown, rollout of the vaccine, impressive business growth, the traditionally busy spring market, particularly this year with its pent-up demand, and we have a recipe for one of the strongest seller’s markets in recent memory.

 

According to the Acadata House Price Index the average price in Wales & England stands at £339,160 – a rise of 9.8% on the same time last year - out of interest in our area, our sales are currently averaging £259,245. This provides us with a real sense of how the housing market is significantly outperforming the wider economy.

 

That’s great for home owners and property investors, albeit not so good for people not yet on the property ladder. According to one of the large property portals, buyer demand last month was up 34% on the same time last year and supply levels of properties for sale are down 13%. This imbalance is at a ten-year high.

 

So it’s competitive out there.  If you’re looking to buy, it’s critically important that you can demonstrate that you are in a proceedable position. Ideally you should have your mortgage agreed in principle,- they’re not easy at the moment. In the ideal world, you should also have your own property either sold or under offer, and you must accept that you may need to be flexible on both timing and price.

 

If you’re selling, then you’re in a strong position, and yes, you may well secure an impressive figure, even ahead of your asking price in some instances.  (That happens about 11% of the time (source Propertymark).  But do be careful how you pitch your price.  Please do speak to us before plucking an impressive figure out of the air, as that often leads to disappointment.

 

There is more to this than meets the eye. We CAN help you maximise your price but there’s a bit of science behind it, a bit of psychology, as well as our local, specialist expertise in choosing the best method of marketing your property.

 

In fact, we may already have the right buyer for your home, and they might pay a premium for advance access to it.  

 

Some people tell us that they are reluctant to put their own property on the market because they feel they might not be able to find anything suitable to buy. That’s understandable. But so often, during times like this, many sales are agreed “off-market” - to pre-qualified buyers before the property even hits the portals. So we say, “have a little faith” – there’s more out there than you might expect, but you may not be offered it until you yourself are in a strong position to buy.  So take the plunge and enjoy this seller’s market while you can.

 

Please don’t hesitate to contact your local office listed below for a free “virtual” or “physical” overview, with a smile and no obligation, no paperwork, no fuss in a safe manner.

 

From the team here at Williams & Goodwin may we extend our best wishes for a safe, healthy and  Happy Spring and summer Market! 

 

#Llangefni 01248751000

#Bangor 01248355333

#Holyhead 01407760500

#Caernarfon 01286677775

#Lettings 01248724040

#Auctions 01248753939

 

©Copyright 2021 Williams & Goodwin The Property People Ltd. 

25Mar

A triple crown of awards go to local agents Williams & Goodwin The Property People who recently received the Gold, Silver & Bronze awards from customer review platform - View Agent.

Melfyn Williams, Director commented:
" We are absolutely delighted that feedback from our customers have ranked our offices at #Bangor #Llangefni #Holyhead and #Caernarfon as Excellent; Outstanding & Exceptional with one office being in the top 60 offices in the UK; 2 offices in the top 40 Silver award in the UK and one office in the top 20 GOLD award in the UK with customer review platform View Agents - it's great to see our teams hard work being recognised"

Tim Goodwin, Director added:

"A big THANK YOU to all our customers who take time to complete reviews on our service  -hopefuly we can continue to serve well and continue to help people in the property moving process"

Bangor Office team

Llangefni Office 
#williamsgoodwin #property #people #movingtogether #proudguildmembers

22Mar

SPRING FORWARD - it's time to move on....

Despite everything going on in the world, the local property market remains active and we have increased demand from buyers & tenants wishing to move around the area to find their new dream home. If you're thinking of moving this Spring, or have a vacant property that could be let, please don’t hesitate to contact your local office listed below for a free “virtual” or “physical” overview, with a smile and no obligation, no paperwork, no fuss in a safe manner.

 

From the team here at Williams & Goodwin may we extend our best wishes for a safe, healthy and Happy Spring Market! 

#Llangefni 01248751000
#Bangor 01248355333
#Holyhead 01407760500
#Caernarfon 01286677775
#Lettings 01248724040
#Auctions 01248753939

#proudguildmember #williamsgoodwin #property #people #moving#buying #selling #movingtogether

©Copyright 2021 Williams & Goodwin The Property People Ltd.

05Mar

Welcome to the March 2021 Property Market Comment:
Fortunately for the property market, there was no immediate bad news in the budget this week.
In a nutshell, nine months ago, the government sought to bolster the economy in Wales by helping the property market, by the temporary removal of Land Transaction Tax (Stamp Duty) on a property purchase up to £250,000. That concession was due to end on 31st March. The deadline has been extended in Wales until 30 June. In order to benefit, the transaction must complete before 1st July 2021 (the new deadline).
So that’s really good news for the property market and we expect this to herald what is already looking like a very busy spring and summer market ahead of us.
This Government clearly believes in home ownership and especially helping first time buyers get on the property ladder. As we know, high property prices have made that difficult, due to mainly young people requiring large deposits of maybe 10% of the property’s value. So the government will now be guaranteeing the loans of banks that are prepared to lend to any buyer with just a 5% deposit. So that’s 95% mortgages available once more, up to £600,000.
Interest rates, for the time being, remain incredibly low and the government is controlling unemployment by extending the furlough scheme until the end of September when most businesses are expected to return to pre-pandemic levels of employment.
Britain has proved once again that we are extremely good at weathering storms, as proven by our amazing vaccine roll-out programme, confidence levels are already beginning to improve.
We have very high hopes for the rest of this year, so if you’re contemplating a move during 2021, now would be an excellent time to take action.
Why not call us for a confidential initial discussion on potentially marketing your property on:
#Holyhead 01407760500
#Llangefni 01248751000
#Bangor 01248355333
#Caernarfon 01286677775
#Property Management 01248724040
#Property #Auctions 01248753939
The Guild of Property Professionals
©Copyright 2021 Williams & Goodwin The Property People Ltd.

26Feb

A year like no other

2020, a year in which the housing market defied expectations. At 7.6%, annual price growth across the UK is at its strongest since the summer of 2016. Over 129,000 homes are believed to have changed hands in December, 32% more than in December 2019 with sales for the year projected to be just 11% lower than in 2019 (HMRC). The mortgage market has recovered. Approvals in 2020 were up 3.7% on the previous year (Bank of England) and with an estimated 9–10% more sales agreed in 2020 than in 2019, the start of 2021 has been positive.

 

mortage approvals national statistics

 

Supply demand imbalance

The third national lockdown has exacerbated the supply demand imbalance evident across the housing market since the autumn. Rightmove reported its busiest ever start to a year, with demand up 12% and sales agreed in January up 9% year on year. However, new supply to the market has fallen by 12% and the number of homes for sale by 6% as new sellers remain cautious while restrictions remain (Zoopla).

 

property sales statistics 2020

 

Economic backdrop

Activity in the market is set against a backdrop of continued economic and consumer uncertainty. The UK economy shrank by a record 9.9% over 2020, despite growth of 1.2% in December. Although consumer spending fell sharply in January as restrictions were tightened, the vaccination rollout is on target and there is some optimism that restrictions may start to ease in the near future. The Chancellor’s Budget on 3 March will set the tone for the year ahead, the economy currently forecast to return to pre-pandemic levels during the final quarter of 2022 (OBR).

 

house prices statistics

 

Rental market

Average rents across the UK rose by 1.4% in the year to December, on par with growth throughout the year. Agents in virtually all parts of the country envisage rents rising over the near term, London the notable exception as supply continues to considerably outweigh demand (RICS). As in the sales market, interest in rental property out of city centres has surged. However, the majority of renters move less than five miles between tenancies.

 

gross income spent on rent Dec 2020 statistics

 

Regional Reports

Browse our Regional Market Report: 

‚óŹ          https://pageturner.guildproperty.co.uk/guildreportsnorthwestspring2021

 

Contact us today

To see a full copy of The Guild’s spring market report and for further guidance on the home moving process, take a look at the regional property market updates or get in touch with your local Guild Member office today at Williams & Goodwin The Property People Ltd.

Thinking it could be time to sell your home? Book a valuation to see if your house price has grown. 

 

Who We Are

Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.

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Get in Touch

Do you want to find out more about Williams & Goodwin and their services, call or email us today.

Caernarfon - 01286 677 775
Bangor - 01248 355 333
Llangefni - 01248 751 000
Holyhead - 01407 760 500
Property Management - 01248 72 40 40
All Wales Auction - 01248 75 39 39

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