Derby Property Market – Quick Update 09/08/2013

Welcome to this week’s quick market update – keeping you in the loop with all the latest property related news from in and around Derby. In this instalment, we’ll be taking a quick look at:

• New listings on the market
• The latest investment properties
• Ideal first time buys
• Best mortgage rates
• And a customer question!

It sounds like a lot to go through but I’ll keep it short and sweet and you’ll be a fountain of property related knowledge by the end!

By the way, thank you to all who sent me an email, it was much appreciated and I’m glad you found the information useful. However, if you no longer wish to receive these updates, simply click the “unsubscribe” link at the bottom of the email – at your own peril!

This week there were 201 new properties listed in Derby. An increase of almost 9% on the previous week so there’s still plenty of activity with new listings and price reductions.

35 of those new listings were from Hannells. Included in those new instructions is a lovely three bedroom detached family home on the City Point site, extremely convenient for Derby city centre:

http://www.rightmove.co.uk/property-for-sale/property-27720624.html

And a super, extended bungalow sitting at the top of a lovely cul-de-sac. It may not be bang up to date in terms of décor but it has been superbly maintained and it’s an excellent size:

http://www.rightmove.co.uk/property-for-sale/property-27752847.html

At the higher end of the market, there were 127 new listings priced £300,000 or more from across the WHOLE of Derbyshire, not just Derby. That’s an increase of 11% on the previous week which is good news for buyers in that price range as there’s plenty of choice.

With a guide price of £1,750,000 – this country home comes in at the most expensive this week. It looks absolutely stunning inside with its own swimming pool and fabulous views across open countryside:

http://www.rightmove.co.uk/property-for-sale/property-27804840.html

Also included and a little lower down the price scale is this beautifully presented, five bedroom former show home on a small, private cul-de-sac in Chellaston:

http://www.rightmove.co.uk/property-for-sale/property-40158793.html

Last week, I said I’d try and get to the bottom of what was happening to the sold statistics. After speaking with Rightmove, I can report that there is actually no way of finding out how many properties have sold over the last seven days. However, we can see how many properties have come onto the market AND actually sold within the first week of marketing.

This week, there were 12 properties across Derby that sold in the first week of marketing. If we look at the sold properties across the whole of Derbyshire priced upwards of £300,000 – there have been 11 which is a big improvement on last week when there were just two!! Clearly there’s some movement in the premier properties market which is excellent news!

If you’re looking to invest in property, there have been a couple of interesting new listings this week.
This two bed semi is in pretty good condition, it’s a popular area for renters and it’s a great price too:

http://www.rightmove.co.uk/property-for-sale/property-40156612.html

This extended three bed semi in a very popular area would also make an ideal investment purchase. With an asking price of offers above £140,000 – you should expect to achieve between £550-£600 pcm:

http://www.rightmove.co.uk/property-for-sale/property-40187764.html

There’s also been a couple of great first time buys for those looking to take their first step onto the property ladder.
You could move straight into this modern two bed semi in Chellaston at £119,950:

http://www.rightmove.co.uk/property-for-sale/property-27752679.html

And who’d have thought you could get a two bed semi on the sought after “Heatherton Village” for just £69,950? Well you can with our 50% share on Wintergreen Drive. It’s hot off the press so it’s not even on Rightmove yet. If you’re interested, call our Littleover branch on 01332 773399.

In terms of mortgages, the Bank of England base rate has been kept at 0.5% which means there are some great deals out there. Out mortgage extraordinaire, Sara, has access to mortgages for first time buyers with rates as low as 1.69%! Plus, for those looking to make a buy to let purchase, the rates are as low as 2.49% – call your local branch of Hannells for more information.

And for the question of the week, thanks to Mr Thompson of Chellaston who asked:

“I really want to move but I don’t think I’m going to be able to get what I want for my house, is there anything I can do?”

Well Mr Thompson, it’s a great question and there is an answer, I’ll keep it as short as possible. Many sellers fail to look at the bigger picture when it comes to buying and selling, especially if you’re upsizing or buying “like for like”.

You may not be able to get exactly what you want for your property (like I said last week, properties are selling because buyers are prepared to pay what they consider to be the market value) but there is every chance you could make this up on your purchase.

If you’re able to accept an offer, albeit lower than what you had hoped, it puts you in a very strong position in terms of the offer you’re able to put forward on your next property. You may be surprised at what people would accept from a buyer in a position to proceed and you never know what they’re circumstances are.

So whilst some sellers may be disappointed to find that they can’t get what they had originally hoped for their own, think further up the chain and there’s every chance that you can recoup what you didn’t get for yours on the property you buy!!

That’s all for this week. I hope you found it useful and feel free to send me any questions or comments!

Happy house hunting!

Regards

Benjamin Brain
Partner Managing Director
Hannells

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|| Email: benjamin.brain@hannells.co.uk ||
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