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Those of you who have received the newsletter in the past will know that we had been comparing the activity in the Derby property market with the week before – allowing us to see whether there had been an increase or decline in activity.
However, due to the feedback we received (we do listen!) we realised that, although useful information, it may have been a bit too much, too often. So from this point forward, we’ll be looking at the last two weeks activity which will still give us an excellent idea of how things are going.
Over the last fourteen days, there were 399 new listings (including price reductions of over 2.5% and sellers instructing new agents). It’s a sign that even though we’re almost into September, there are still plenty of houses coming on to the market.
Included in those new listings was this lovely two bedroom detached bungalow in Shelton Lock with an excellent sized conservatory overlooking the private rear garden:
And a particularly nice three bed semi in Oakwood. Check out picture number seven and imagine coming home to views like that after a stressful day at work!
Whilst it doesn’t really give a huge indication of which way the market is heading, it’s still interesting to look at how many properties have come to market and actually been marked as sold STC during the first week of marketing. In the last two weeks there were 25 lucky sellers who were able to locate a buyer in the first week.
It’s something we’ve always said – it only takes one person to fall in love with a property and buy it. You simply never know when that one person is out there looking, it could be the first week, it could be eight weeks later BUT as long as you’re confident that your property is being showcased to its full potential and is being marketed by a pro-active estate agent – you will get there!
For the £300k plus market, we broaden the search to the whole of Derbyshire. Over the last fourteen days, there were 185 new listings priced above £300,000. Whilst activity looks to have slightly dropped here, there are still plenty of new properties and this could easily climb back up again over the next couple of weeks.
Coming in as the most expensive new listing over the last two weeks is this stunning six bedroom detached house. It’s beautifully presented and the views are something to behold. Would you pay £1.6 million??
Included in those new listings was this simply stunning five bed detached house in Ambergate. The views from the garden are breath-taking and inside it’s beautifully presented:
There was also this extremely well presented four bedroom detached house in the much sought after and highly popular village of Aston on Trent. There’s a fabulous dining kitchen and an en-suite bathroom to the master bedroom:
For properties in the £300k price range that came to market and sold within the first week, there were seven. It’s certainly a big increase from the beginning of the year when there was regularly only one or two. Most of these that have been marked as sold came in under the £450k mark but there have been one or two up in the higher price ranges such as this wonderful character country house in Idridgehay which had an asking price of £1.2 million!
In other property news, it was recently reported on the headlines of some major newspapers that house prices are on the rise. From our perspective, house prices in Derby appear to have steadied and we’re certainly not expecting any huge price increases anytime soon. Whilst a bit of positive news about the housing market is always good, it’s important to remember that buyers are looking for value – not a bargain – and they’re certainly not looking to pay more than the local market suggests.
There’s no doubt that with so many properties available, we’re still in a buyer’s market and in order to sell in this type of market, your property should compare favourably with similar properties that are available.
We’ll be back with another update to see how the market has performed in a two weeks.