New Sales & Lettings Up in January
Managing Partner, David Boyden reflects on a busy start to the year.
The start of a new year is traditionally a busy time with lots of people starting new resolutions, moving jobs and also, of course, moving home. We have certainly witnessed an encouraging start to the year with our instruction levels for sales across all Boydens branches up on the same period last year. This is, of course, encouraging for us, but I think also reflects renewed urgency in the market.
Our January new Sales and Lettings transactions are well up with our Colchester Head Office leading the way this month. There appears to be a real feel-good factor surrounding Colchester at the moment. As a town it offers buyers and tenants in all age ranges so much including quality schools, an expanding university, London in under 1 hour and access to seaside resorts.
Evidence of urgency in the market
Twelve months ago we were conducting between 12 and 14 viewings in order to sell a property. We are now seeing that number drop to an average of 9.5 viewings before a property is sold indicating that buyers are more willing to make the commitment to purchase. We are seeing a vast range of properties come to market now, from Bijou residences to small houses perfect for first-time buyers.
There is still confidence in the market despite the broader issues of Brexit where, whilst our clients are wary of future outcomes, they know they also need to move on with their lives, whatever the shape of agreements made in Brussels.
On the Lettings side of our business, we have also seen an encouraging start to the year. With an 83% conversion rate on new business despite low levels of stock in the market overall, we are working to strike the balance between remaining competitive on fees (which are also realistic), whilst staying true to our core values to deliver a first class service.
As an industry, I believe that we should be about more than just the lowest fees. We know that the environment in which Landlords operate has changed considerably in recent years. The increases in legislation for the rented sector means that, as trusted Letting Agents, we can help our clients to overcome the issues they face in this changing landscape. This is a task which we will continue to deliver.
Our teams are ready to assist whatever your property requirements, so please don’t hesitate to contact us.
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