Price Sensitive Market Says Fine & Country......
3 October 2011
Price Sensitive Market says Fine & Country……….
The current economic climate is understandably affecting the volume of sales in our marketplace. As a result, the market is extremely price sensitive with some vendors frankly expecting unrealistic values for their properties. In a market where buyers are more price conscious than ever before, now is a good time to buy as sellers are often able to be more flexible with the original asking price in order to guarantee a quick and easy sale. We are securing some great sales for many of our properties which are competitively priced or of special interest.
One particular trend we have noticed in the area is the increasing demand for great presentation from our buyers, particularly at the top end of the market which we predominantly specialise in. In a price sensitive market, buyers are seeking a bargain and a brilliantly presented home is more likely to entice a buyer to pay the higher asking price. For example, when selling a period property it is important to retain its key period features so as not to lose its authenticity but also to keep the interior fairly up to date. Top end buyers prefer a newly decorated feel equipped with the latest technologies and the most impressive furnishings and fittings.
I would describe Cambridgeshire as one of the UK’s “hidden gems” due to its rural location, excellent schools and transport links. It is very well connected to the rest of the country allowing easy access to surrounding cities and villages via the nearby A1, A14 and M11 or by rail to London Kings Cross in 50 minutes making commuting a realistic option. Cambridgeshire has a great country feel to it and can offer a lifestyle to suit everybody. The region offers a wide choice of quality housing in stunning rural locations. For those seeking a good quality of life and escapism, the rolling countryside beauty is an ideal tonic.
We always have interesting and quirky properties on the market, these can range from stunning riverside houses, conversions and detached family homes to magnificent period dwellings steeped in history. Bealieu House is a prime example of a beautiful historical dwelling Fine & Country have for sale, a grade II listed Georgian townhouse in the heart of Cambridgeshire. The rooms reflect an air of grace and elegance that comes from the Georgian features and spacious proportions that blend so gently with modern and contemporary styling with equal versatility. Bealieu House also has a secret door in the bookcase! Conversions are particularly popular as well, we often sell converted churches and chapels. The Grange & Brew House for example is a converted rectory and brewery which dates back to the 1800’s and has attracted significant interest due to its uniqueness and rarity.
Compared to the same time last year, sales are on the whole relatively the same. Last month was our second highest sales month ever, which bodes well for the second half of 2011 and shows that the property market in Cambridgeshire is slowly making a recovery. This month we have agreed sales and instructed solicitors on 7 properties.
It has become increasingly difficult to predict with any degree of accuracy as to how the market shall be going forward. However our region is slowly showing signs of a recovery and so we accept that the current volume of sales is likely to continue at a similar level for the next year or so. Market commentators are split as to whether prices will be higher, lower or if they are to remain the same. Despite having worked in the property market for 30 years, for the first time I have found it very difficult to make this call but in my view property will always remain a long term investment. Some might even argue that the current property market is advantageous for buyers who can find themselves great value for money not only in our region but also across the country. We are confident that being part of an established brand that is Fine & Country who utilises and adapts the latest state of the art technology to promote properties will result in property transactions within reasonable timescales.
We often receive requests for prestigious addresses in popular villages which is a thriving market for magnificent houses. For example Hemingford Abbots is extremely popular with buyers due to its selection of impressive houses; easy access to the rest of the country and its close proximity to a top independent school, Kimbolton, based in a beautiful castle and also responsible for the education of the son of the former Prime Minister, John Major. As with all of the Cambridgeshire hot spots, local amenities offer a lifestyle choice to suit all preferences. A 5 bedroom property starts from around £700,000 and can range up to £2,500,000. Hemingford Abbots is a key market place for us to position ourselves and we have noticed that properties we have for sale here tend to sell pretty quickly. The quintessentially village of Eltisley is also a sought after location which comprises cricket on the green and a small local pub.
There is a real sense of local community in and around Cambridgeshire. For example, for more than forty years Cambridgeshire has hosted the Hemingford Abbots Flower Festival which is a bi-ennial event and has become a regular fixture at the end of June in the calendars of garden lovers and those who wish to soak up the atmosphere of a traditional English village on a Summer’s day. Cambridgeshire also hosts regular farmers markets and village fetes offering local produce and a friendly community buzz for the whole family to enjoy.
Fine & Country Cambridgeshire - Tel: 0845 603 2825 - Web: www.fineandcountry.com
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