February 2019 Market Update

February 2019 Market Update.There is no doubt that 2018 was a very challenging year for property transactions both in Bath and generally in the South of England.

There is no doubt that 2018 was a very challenging year for property transactions both in Bath and generally in the South of England. However, no matter how bad the news may get regarding Brexit there are going to be houses bought and sold this year and probably the prices paid in real terms haven’t eased that much. Especially when you compare what has happened with London prices with some areas losing more than 20% of their value. Nonetheless, some vendors will stay away from selling in these times, which effectively reduces stock and therefore prices are upheld. There are however some agents who are valuing property in central Bath as if nothing has happened over the last 2 years and in fact in certain instances reflecting an increase in prices. The houses will stick and will either be reduced or will be taken off. My advice if you want to sell in 2019 is be cautious of over-valuing. If it is priced correctly it will sell, we agreed the sale of 22% more property in Jan 2019 compared with Jan 2018 so the market is far from dead.

Getting well prepared to sell.

It is absolutely clear that transactions are becoming harder to get to exchange of contracts, there are a combination of factors involved within this but certainly a more fragile market creates in some the feeling of indecision. We recommend that if you are planning to sell in the Spring that you contact a conveyancing solicitor early on - this helps hugely in expediting the transaction. I very much look forward to discussing your sale with you shortly.

Charles Everritt

Head of Residential Sales.

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