Hello and welcome to this weeks blog where I try to bring to you, a real insight to the current property market, not only from my-side, but from the heads of each department that we have here at DM & Co.
I’ll kick things off by starting with an apology, I know, sorry - you all missed last weeks blog - my fault entirely, I found myself in Ireland with limited technology to hand and with the Jubilee Celebrations and those of my grandfathers 93rd Birthday taking precedent, please forgive me.
So, what has happened over the last couple of weeks to the local property market, and by local I am talking about the areas that we touch as a business - we are blessed to have a finger on the pulse of such a cross section of prices and demographics, from the £180k right the way through to the £5m+. This is what gives us a real handle on understanding the market and getting those early signs of movement. Having 80% of the 30-strong team based within our head offices, really does make a difference as you really do see, hear and feel how teams work much more closely together across departments and clients.
There remains a real appetite for property across the borough, of course there does - we do, like it or not, live in a bubble that is robust and has been resilient for many a year. The demand from those that want to be in the area exceeds the level of supply and this continues to hold prices at record levels. Can the market keep climbing? - Honestly, I fight myself with this one on a near daily basis but all of the ingredients are there to suggest that we are far less likely to see a decline than a rise - but for how long? Will interest rate rises have a significant impact on the market? When will we see that impact? What will that impact be?
What we have to remember is that there is always a market, be it a good one, or a bad one - we live in a society where people like to climb the ladder, families are built, the dreaded Tripple-D (Death, Debt and Divorce) all take place and there is a list of buyers that grows by the day for property at 250-450k as local investors believe so strongly in the longterm security that this area gives them.
I do believe that we are entering a period of stabilisation so far as prices go, the market has been hot for the last 3 years and what we are seeing now is a lag in the number of people looking to move because those that wanted to, have done so. The knock on effect of this is that there is less property coming to market, which had put upward pressure on house prices, but are we now seeing a more savvy buyer? Are buyers more aware of the market now than they were during the frenzy? - I think so, and we certainly see this reflected in the conversations that we are having with buyers.
If you are interested, or would like to know more about how we operate - please do feel free to get in touch. Such is the level of transparency that we operate here at DM & Co. my mobile number is available, feel free to drop me line, WhatsApp or SMS. If you would like an Instant Report on your property - please feel free to click here, I would love some feedback on these.
Right, that’s enough from me…over to my Sales Director, Lisa Smith
“June has started with a bang with the Jubilee celebrations, and the Dorridge office are preparing lots of new properties for launch. This week I have shown buyers around a beautiful property in Knowle, it has been a great opportunity to hear their experiences of buying a property first hand. The general consensus is that it is still tough out there with competition still being high and many still experiencing the ‘best and final’ scenario. My advice is stick with it, it will happen! Showing potential buyers around your property is a very important part of the selling process, in fact the ideal outcome of a viewing is to receive an offer! This is why we feel it is crucial that we accompany all viewings. When considering which agent you are going to instruct, ‘Who will do the viewings?’ is an important question to ask. Will it be a member of the team you have met?, and even more importantly, have they been to your home? A new vendor this week said that their previous agent had just listed the house and not sold it. Having been through the buying process myself recently, I know how frustrating it is when the response to a question is 'You will have to phone the office to find out’. So when you next speak to your agent, or you are looking to instruct one, make sure you know who will be selling your property! I am very pleased to say that I received an asking price offer yesterday whilst doing a viewing - I’ve still got it! 😀” - Lisa Smith, Branch Manager - Dorridge and Sales Director
“Chiara continues her success with securing some fantastic applications this week with 2 of those being properties that have not yet hit the open market! We have been super impressed with her skills to identify the needs of our clients & then matching them with their perfect home, however we just need more of them!! If you have a vacant home or are unable to sell but have the option to rent, then please do get in touch with us for some free no obligation advice!! If you are looking to expand your portfolio or considering becoming a landlord, join The Landlord Club today as we continue to help build amazing relationships with Landlords across the borough.” - Gabrielle Argue, Lettings Manager
“An incredibly busy week with viewings galore at Stripes Hill Farm, our latest development in Knowle, Solihull! Four new homes including two barn conversions and two brand new houses starting from £750,000. This development is set within the most picturesque setting with open views to the South of greenbelt countryside. View before it’s too late! Two new development opportunities were also secured and will be, as with the majority of land sold via DM&Co, handles off market with new homes ready to add to the pipeline in due course. Next week will see further discussions regarding a large block of apartments in Solihull town centre that we’re set to launch in the coming weeks!” - Chris Evans, Land & New Homes Manager
“Thank you to all of those that have put their trust in DM & Co. Premium, without you we would not be where we are today, comfortably listing and selling more million pound homes than any other local agent. The feedback that we continue to receive is phenomenal and the one that continues to stick out is that at how different people feel when dealing with us. There is a genuine care and passion for delivering results in a kind, caring and compassionate way. We have the pleasure of seeing some of the areas most stunning, charming and beautiful family homes - many of which you will never know are available UNLESS we know you, so, if you are looking to spend anywhere from £1m to £10m! then I need to know - such is the demand for sales in a private and on a low-profile basis, this really is a skill and one that does not rely on the portals to get the phone ringing! - I must thank Dominic, the strength of his network - where does he find all these properties for me to sell? If you would like to sell your property with the agent that sells the most and has the strongest network, fire me a message or drop me an email by clicking here.” - Kathy Griffiths, Head of Premium
“The market in and around Solihull remains strong with high levels of activity and interest from buyers, whether first time buyers, those upsizing, downsizing ,buying to let – we are registering high numbers of proceedable buyers each and every day. If you are currently on the market and your agent is failing to generate interest this is normally down to one (or in some cases both) of two things; Your agent has either priced your property too high, (usually borne out of desperation to secure your instruction), or they are failing to fulfil the promises they have made you when trying to win your business. Hard to believe that agents still feel the need in this market place to tie clients in to weeks, sometimes months of exclusivity - if an Estate Agent has valued your property accurately and is confident of their ability there is simply no need to do this - please make sure you check the small print before you sign on the dotted line. One of the attributes I, and we at DM & Co. pride ourselves on is transparency, something that has all too often been the failing of many agents. If you are currently on the market and out of contract with your agent or nearing that point and fancy a fresh approach please do get in touch. We are already well into double figures for sales agreed in June - the demand is clearly there so if you are considering selling I would be delighted to be able to assist and provide you with the professional advice that you and your home deserve. We very much look forward to hearing from you.” - Peter Faithfull, Branch Manager - Solihull
Thank you for taking the time to read this weeks market update - if you would like to know about anything property related, we would love to hear from, and help you. If you’d like to book a valuation, that is really easily done - click here!
Let’s be honest - selling your home is never going to be easy, there will always be something that doesn’t quite go to plan - what is incredibly important is how your agent reacts to these instances.
If you would like to learn more about how we operate, please get in touch with the Solihull or Dorridge office on 0121 775 0101 or 01564 777 314 respectively.
We look forward to hearing from you.
Dominic Murphy - email me here or WhatsApp on 07595 903 811
Managing Director – DM & Co. Homes