Winding down for the winter season doesn’t appear to be on the cards this year, certainly for the local West Bridgford property market. Reporting unusually pro-active and buoyant activity, Rex Gooding have actually seen an upsurge in those pursuing new homes.
To cope with demand, Rex Gooding has been hosting an average of three open days every weekend over the last four weeks and just two weeks ago carried out 19 show-rounds at one property on Millicent Road, and more recently, twenty six viewings at a property on Melbourne Road and a whopping thirty six at Midland Cottages.
As a result, the selling price at the latter two properties achieved 5% over the guide price.
And there appears to be no end in sight with an open day at a Lady Bay property this weekend having 36 viewings on the books!
These figures fair very favourable with previous statistics which tracks an average of 10 show-rounds post Brexit compared to approximately 18 pre-Brexit proving that the market is buoyant in this region.
The consequences of course are that more people are participating in best and final offers and agents are achieving higher percentages over the guide price than any other time of the year. This all makes for a very Merry Christmas!
Daniel Gooding, Residential Partner at Rex Gooding, comments “We’re seeing buyers who want to improve their standard of living with a move to a bigger home to people moving into the area for the schools and lifestyle. There’s certainly no slow down here. We added 7 new properties last week which is unprecedented for this time of year.”
Daniel continues, “There is an enormous amount of psychology in pricing a property correctly. If we feel a property’s value is around a big price bracket like £400,000 or £450,000, we will always recommend to set the Guide price at this level rather than any higher. The less you ask the more you get. Gone are the days of pricing a property to take in to account offers.
These days in West Bridgford, the Guide price is a starting point. Of course even setting the correct Guide price is not possible without a thorough knowledge of local market values and the experience to back it up.”