Hello and welcome to this weeks update on the local property market from myself, Dominic Murphy and teams across the business.
I’m fortunate to have some of the best local knowledge built into the company via the 30+ strong team that we have at DM &Co. focussed on delivering and achieving results for clients across the board. Each week it’s upto the department heads to report to you on what they are seeing, hearing and feeling in the market.
I’d like to kick things off with a little bit of commentary on what I can only describe as absolute scaremongering from the mainstream media, reporting on doom and gloom and falling markets. Market sentiment is incredibly important and conversations that I’ve had with both local agents and those further afield all confirmed that there remains plenty of interest from buyers and that what we are all feeling is pressure on stock levels, there is simply not enough property available to buy - which in turn, if you’re thinking of selling - makes it a fantastic time to get qualified buyers through your front door!
This week has seen a rise on buyers registering with the business, with sweet spots for budgets being 2-400k for first time buyers and 4-700k for second steppers. Demand at £1m+ remains high, with one property just launched having 11 viewings today, in less than 48hrs of marketing.
I am speaking to more and more people that are looking to expand their buy to let portfolios at a time where we are seeing accidental landlords sell their properties. If you fall into either of these categories, as a buyer or seller, please get in touch as many of these transactions are taking place away from the open market and within ‘The Landlord Club’ - Gabrielle spoke to one client this week who would like to sell c. 30 properties from within his portfolio and we look forward to working on that disposal over the coming weeks.
When it comes to instructing an agent to sell or rent your property, we understand that there is no shortage of choice - all that I would ask is for you to be certain that you’re comparing apples with apples. No two agencies are the same and whilst I’m flattered at the level of business we pick up second time round, the time my clients would have saved if they’d come to us first is phenomenal.
Remember, just because somebody tells you your house is worth more than ‘we’ think, reducing it in 4 weeks time will only damage it and cost you thousands.
Just before I hand over to Lisa, there’s one rumour that I’d like to quash…a well known boxer did not buy the beautiful property that we sold (nor did 007!) - full article here.
Right, that’s enough from me…over to my Sales Director, Lisa Smith
“The beginning of July has started with a flurry of activity, the team have offers on 7 properties, we are preparing the marketing for 12 new properties, and yesterday we’re instructed on 3 more! Exams are over, the summer holidays are near, and those who have been holding off are now raring to go. This is great news for the buyers who have been waiting patiently, and with increased activity on Rightmove, this appears to be the case across B93 and surrounding areas. We had over 400 NEW buyers register with us this month across the sales offices, a similar number to that in April and May, so no sign of slowing which is very positive – we just need to find them homes now. We are excited to have another busy month ahead, so if you are still searching, please do get in touch because we may just have your dream home having photos taken this week!” - Lisa Smith, Branch Manager - Dorridge and Sales Director
“June has been a corker! 90% of our June tenancies joining the DM & Co fully managed family. I am super pleased to say its been a record breaking month! For anyone that is questioning whether the rental market is slowing down...DON'T...we remain in need of nice new properties of all styles! I may even have the answer to a few of your prayers as this week I had an amazing opportunity given to me. Do I hear the words 'off market investment properties"? Yes, thats right our landlord club members will shortly be given exclusivity to 50+ properties that are not going live on to the market! You would be mad not to join The Landlord Club today.” - Gabrielle Argue, Head of Lettings
“This week saw Premium spreading its wings into Leamington Spa with the launch of a completely unique property in the Town Centre, illustrating the growth and presence of the brand which is really exciting. Lots of interesting chats with clients that are looking to downsize this month. A difficult decision for many. It’s all about timing, they would like to find first, before they market their home but in this competitive market, offers aren’t being accepted from those not in a proceed able position. The key to the process is marketing their home and managing expectations of their potential buyers and then actively helping the clients to find their perfect downsize. We have had two such cases this month which have taken over 6 months to reach completion, but with patient buyers and communication with all parties it certainly is achievable. I’m personally incredibly excited about a new very low profile amazing property that I have been given the opportunity to sell. Anyone with a budget of four million looking for something very special in the B93 postcode, please do get in touch! Looking forward to an incredible July.” - Kathy Griffiths, Head of Premium
“As quarter 2 closes and we enter the second half of the year is has been another week of busy activity. I am happy to say the phones are still ringing all day with new buyers wanting to register, existing buyers wanting to view and potential sellers wanting sales valuations. I have attended a good number of valuations this week and multiple times I have heard that those potential clients were impressed by just how many of our for sale and especially sold boards are in their area, no doubt helped by a busy few weeks of new instructions - on that note look our for our new design of eye catching boards and let us know what you think, we are getting loads of fantastic positive comments on them. In this tough competitive market it is just one of many things that helps us stand out from the competition. With so many new buyers registering if you have a property to sell in Solihull, Shirley and the surrounding areas please do give us a call without delay and we will get you sold and moved, have a great week everyone.” - Peter Faithfull, Branch Manager - Solihull
"An incredibly busy week for Land & New Homes with new sales agreed including one at Stripes Hill Farm, Knowle and two new development opportunity sites launched (this weekend). One of the two new sites offers buyers the opportunity to obtain planning for the replacement of an outdoor swimming pool, brick built and covered at single story height, to a residential dwelling if desired. Sitting at 3,000sqff, it sits away from the main house of a similar size and is set within a prime location between Barston and Hampton in Arden. More updates to come next week regarding our latest site in Solihull, an apartment block ideal for first time buyers and investors, which we can’t wait to launch two weeks from now." - Chris Evans, Head of Land & New Homes
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