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September Market Update

13 September 2017

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Welcome to our September market update –we often see a slowdown in activity and August has been no exception to that this year.

Rightmove said that the average asking price fell across by 0.9% across Manning Stainton we’ve seen a small fall of 0.5%, it’s important to remember that this year we’ve had an increase of 3.5% that’s not quite as much as it was at this time last year, but still an increase none the less.

The real challenge at the moment is around the number of properties that are on the market at the moment. The NAEA published a report at the end of July, saying that the stock of properties on Estate Agents shelves was the lowest it had ever been.

So as we come into this second busy phase of the year, in September, I want to give you three very quick top tips for those who are looking to get their next property or buy that dream home.

1.      Get your money ready

Really important, make sure you’ve got an agreement in principle from a good independent Mortgage Adviser, such as the ones we have here at Manning Stainton, but more importantly as well, make sure you’ve got your proof of deposit, which most estate agents are going to want to see before dealing with you.

 2.       Make sure you’ve got a good solicitor

The difference between a good and a bad lawyer will be the difference between you getting that deal, particularly if you are in competition with other buyers.

 3.       Get face to face

You might expect someone like me to say this, but get personal; get to know the agents, the sellers. It’s a really important part of winning that property, if you are going to be in competition with other buyers, I always remember some friends over in Manchester a few years ago, they got themselves into a bidding war, and the way they won it, they wrote a lovely letter, they spoke with the agents, and I would encourage every one of you to do the same.

 

Good luck as we enter this next month, and the second busy phase of the year, if you need any advice on any aspect of property, give us a call and we’ll be happy to take your call.

 

 

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