Much of the talk over the tables at the restaurants and coffee shops in West Bridgford is dominated by the trends in the housing market within West Bridgford, are prices rising fast? Is the market going to slow?
After the last two elections, it now seems certain that we will have continuing political uncertainty, which the housing market traditionally dislikes.
However, demand locally is still high and the market seems to be getting used to coping with instability and is still strong.
There will always be a certain percentage of people who will be adopting a wait and see approach, but many more are wanting – or needing – to press on with their property transactions.
In a recent Rightmove report, the East Midlands has performed well, with an average price increase of 5.1% in a year on year comparison, rising from £198,000 to £208,000.
Our office (FHP) here in West Bridgford continues to grow year on year and we are currently 20% up on the same time last year. We have, however, started to see a slight hardening of attitude from buyers so sellers need to have realistic expectations and be prepared to be flexible in negotiations.
Taking this into account, here at FHP Living we are still achieving 98.5% of the asking price on our agreed sales this year with an average selling price of just over £400,000.
In essence, the property market in and around West Bridgford, remains strong. After personally working through a number of general elections and the economic crash in 2007, I have experienced that West Bridgford is not immune to the economy but is very well insulated.
If you are interested in a confidential meeting to discuss your property needs then please call either myself or Jules now on 0115 841 1155.
Ian Marriott FNAEA – Associate Director – FHP Living – West Bridgford