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West Bridgford
Friday, February 21, 2020

Local estate agent’s West Bridgford property market update

FIRST PUBLISHED

West Bridgford property expert Ian Marriott talks about the market in the local area.

The signs are looking positive! As the early blossom starts to break through, the local property market appears to have also started earlier than the traditional spring spike.

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Ian Marriott, director at FHP Living said: “The first two months of the year have out- performed our expectations and more importantly a year on year comparison with 2018. New instructions hitting the market place are higher than the same time last year which has in turn translated into an increase in agreed sales.

“At our West Bridgford branch that deals with the West Bridgford, Edwalton and South of the river Villages, we are some 40% up on sales values compared to the same two months of 2018, which we feel is a very positive message to share”

This does seem to be in-line with other reports – Halifax’s latest index has indicated that house prices increased 2.8% in the 3 months to February, compared with the same period a year ago, a rise of 5.9% on a monthly basis – which is the largest single monthly increase ever recorded on the index.

Ian does add a note of caution to sellers as there does seem to be a hardening of buyers’ attitudes and therefore sensible negotiation is still paramount in order to secure a successful transaction.

“We have returned to more of a normal market situation which means that there is a need for negotiation by both parties. Mixed with some great fixed rate mortgage deals over 2, 3 & 5 years, now really seems to be the time to move.

“The number of buyers viewing is slightly down on the same time last year, however, the advantage for sellers in the current market is the absence of time wasters. “Buyers are motivated, they’re decisive, they want to move.”

In essence, the property market in and around West Bridgford, remains strong, after 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.

I hope that this brief update gives you a quick overview of the great market place in West Bridgford, if you are thinking about buying or selling your home soon, then please don’t hesitate to contact me or any member of the team at our West Bridgford office on 0115 841 1155.

 

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