Week 29 - The Solihull Property Market Update

So here we are, schools out for summer! - with so many people looking to take a summer break for the first time since summer 2019, what impact will this have on the housing market? - I’ve heard more talk of ‘holidays’ this year than ever before.

With so many people going away - this has to have an effect on the market, but that doesn’t have to be a negative one! - Quite the opposite in fact, we’ve spent the last couple of weeks speaking to families that want to us manage the sale of their property throughout the summer.

Sure, this means that there are likely to be less viewings over a shorter period of time, but buyers will be readily checking for sneak peeks and have emails on standby as and when they see a property that they like from the poolside in Tenerife (or wherever they might be!) naturally, viewings will have to take place when they are back from holiday - so, it is likely to take a little longer to get a sale agreed over the summer holiday period but that’s not to say that your buyer might just be here waiting for the right property to land.

If you are thinking of selling, or would like to sell but nervous about what the market is doing, please do get in touch - my mobile number is given freely for a reason and I encourage you to use it.

I am going to start this week with Peter’s round-up from the Solihull team, until next time - have a great week!

As we enter the Summer holiday period with schools finishing and the weather picking up now is the ideal time for potential sellers to be calling us out to value their homes. Demand remains strong in and around Solihull for all sizes of property from studio apartments to large family homes, so whatever type of property you have please give us a call today to book in a free sales strategy meeting and we will be more than happy to assist. We have new buyers contacting us daily who are ready to buy, they just need to find their dream property – that is where we step in. Attending multiple valuations every day as I do I remain baffled by some of the random valuations and advice that some agents are providing to potential sellers – the discrepancy between some of the figures being given is truly astonishing and worrying – if this has happened to you and you don’t know which way to turn then please call me and I shall happily give you some honest , transparent and realistic information upon which you can make an informed decision about how to proceed next. The fact is that despite the usual scaremongering in the press and the increased interest rates people still want and need to move for varying reasons. Due to Solihull’s location and excellent facilities on its doorstep it remains a property hotspot which our experienced team here have an amazing knowledge of which we are more than happy to share with you, so whatever your requirements and whether you are buying or selling , or just thinking about it, give us a call and put us to the test! - Peter Faithfull, Solihull Branch Manager

A 10.5% increase in rental prices across the Midlands over the last year with an average 6.1% rental yield, BOSH, what a time to be a landlord! I have been rent reviewing some of my new investor friends’ portfolios this week & it has been exciting watching their reaction to what their properties would be worth now on the open market. I totally understand the logic behind having a fantastic tenant that will stay in a property for years because the house price is “good”, but what if we could offer you a fabulous tenant with a fantastic rental price? Of course, I am talking to our landlords with vacant properties & would never encourage excessive rental increases to currently occupied homes. The market has changed dramatically & if you are an old school landlord (self admittedly stuck in your ways), then we are here to bring you up to date with all the yearly / monthly changes that are happening in your area! I still have some off market opportunities for you to buy that are exclusive to members of The Landlord Club so join today for further information - click here to join! - Gabrielle Argue, Head of Lettings

Well that was a hot week in more ways than one! If you have seen the Dorridge office with its glass front you can imagine how hot it was at the beginning to the week! The team managed admirably with a steady supply of ice lollies. With the end of the school term, and many off on holiday, you would expect house sales to slow down, however we have sold 5 properties this week, and two of those before they were launched to Rightmove. This doesn’t mean we just had 1 interested party, both of these had multiple viewings and went to a ‘best and final’ scenario. This is because we have a fantastic proactive team, who know their ‘hot buyers’, and genuinely keep home searchers up to date with any new properties we have coming to market. We have 8 properties we are currently preparing and already have a waiting list for viewings. If you haven’t yet found your next home, you must pop in or call the team as they would love to help you. I also wanted to mention that we also sell houses a little further afield, including Henley-In-Arden, Warwick, Leamington Spa, Beoley, Mappleborough Green and Alvechurch, and anywhere else I haven’t mentioned! So if you have seen our boards and marketing, but have assumed our office in Dorridge is too far, GET IN TOUCH, and see what DM & Co. can offer you compared to other agents in your town. For those off on holiday, have an amazing time, and keep an eye on your emails for any notifications - you can still book a viewing for when you come home :) - Lisa Smith, Sales Director and Branch Manager of the Dorridge office

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.

Kind regards,

Dominic Murphy - email me here or WhatsApp on 07595 903 811

Managing Director – DM & Co. Homes