Week 40 - Solihull Property Market

Welcome to week 40 of the year, yikes! So, what has this week been like - has it been the doom and gloom reported in the press? NO, absolutely not and I cannot stress that enough!

We have seen in the first 8 days of the month 278 new buyers register with the business that equates to nearly 50% of the total number of new buyers registered for the entire month of September!

The market is active, but please be careful - it has never been more important for your property to be priced correctly. This week has seen 16 sales agreed and I expect plenty more to be agreed following the weekends viewings.

I continue to receive calls and emails from sellers that are listed with other agents and that are not having any viewings at all (and haven’t done for weeks) - what is your agent doing (or not doing!?) - It is not your fault that you have not sold, it might be your fault that you instructed the wrong agent. This has been the case for two particular clients of ours this week, who within a fortnight of coming across to DM & Co. had sales agreed and more activity than they could believe.

I expect activity levels to continue at pace and would urge anybody that wants to sell to get in touch with me and I will make sure that you are put in front of the right team.

Right, enough from me - but please do call if you’d like to discuss anything property related. I’m going to leave you now with a roundup from Lisa Smith my Sales Director.

After all the doom and gloom in the press – I have some very positive news from the Dorridge office! The team are speaking to lots of buyers and sellers, and although they are asking probing questions, the consensus is that they are not ‘scared off’, and most importantly the market is still moving along. This has been demonstrated by the fabulous new instructions and the number of sales the team have achieved this week. Five sales across B93 and Lapworth, and staggeringly except for one, all have been agreed within the first week of marketing. One of these properties had recently been marketed with another agent for a higher price and had subsequently had to reduce. We launched at the price I had advised a few months ago, resulting in multiple offers, and we have achieved well over asking price to the delight of the vendors., With the best marketing, the correct price, and a proactive team – you will be in safe hands. So to summarise, if you are thinking of buying, selling, or have been on the market for a while with another agent – you must get in touch for a chat to see how we do things differently. - Lisa Smith, Sales Director

Well we are a week into October and what a frenetic, unpredictable week in the property market it has been. You only have to open a newspaper or turn on the radio or television to hear another opinion on what is happening to house prices, interest rates, mortgage deals etc. I am happy to report that the demand for valuations remains buoyant, the main change being that I find myself being asked more questions by prospective sellers, such as 'Is it the right time to be selling and buying on, are property values falling or likely to in the near future, are interest rates going to continue to rise?’. The honest answers to these questions is of-course nobody knows for sure. Despite having worked within the property industry for 30 years now I like to think I have a good handle on things but I haven’t got a crystal ball! What I do know is that people will always have reasons why they need to move, maybe they need to upsize, perhaps they need a specific school catchment, or do they want to downscale and reduce their outgoings, all very valid reasons to be moving house. It is easy to get carried away in the negativity that people dwell on, but when the initial shock of interest rate rises dissipates and the dust settles the property market will continue to roll on as it has in the past and always will do. Plenty of new buyers are registering, viewing numbers are high, the demand is out there. If you considering selling it is now more crucial than ever that you obtain honest, realistic advice from an agent that is experienced in the market place, and that can guide you through the processes to enable you to make the right decisions for you and your family. That is where we at DM & Co. come in; if you are considering selling or are looking to buy but dont know which way to turn then please do get in touch, no question is too small or insignificant. One of the qualities of a good estate agent is the ability to adapt where necessary when market conditions alter, thats just one of the things that we do, and it’s just one of the many reasons why we can help you. - Peter Faithfull, Solihul Branch Manager

There is no denying that sales people like myself thrive when things are good & so far this month is shaping up to be GREAT! The vibes in my team are amazing & with 10 secured lets in for October already, we are set for our best month yet. What does this mean? More properties are coming to the market for our home seeking clients & we are finding more fab tenants for our landlords. The group viewing scenarios are happening on almost all of our available properties with a vast number of people on a 'waiting list' to view. Well done lettings ladies for such a promising start to the month. Apartments are the flavour of the month!! Affordable rents but still offering a decent size, arguably more affordable to heat & a big one...low maintenance. For those investors that are looking for a quick purchase & even a tenant in situ paying current market rents, give me a call. I have a property or 2 for you. Join The Landlord Club today, if you aren’t a member you're missing my off market opportunities!! - Gabrielle Argue, Head of Lettings

Despite the doom and gloom reported in the media, October has set off at a fantastic pace. Two gorgeous family homes are now in solicitors hands, one more agreed shortly to follow and another on the brink! My team lacks stock, especially houses in the £1m - £1.5m price bracket. Don’t be fooled, if you want to move then get in touch. There are still plenty of buyers out there and eager to find a place that they can call home! - Kathy Griffiths, Head of Premium

Warwick House launches next weekend (15th October - 10am until 2pm) and the show home looks fantastic! Early preview online on Monday, look out for that and get in touch to book your space with us on Saturday! Warwick House is perfect for investors with parking to all apartments in the heart of Solihull and an ideal purchase for first time buyers with prices starting at £175,000, all being beneath the newly amended stamp duty thresholds. Elmdon House will join the market on Monday, a brand new development opportunity with tons of potential in Solihull! A plot with some planning history but three separate potential areas for development, this is a sizeable opportunity at £2.25mil that must be viewed for luxury and volume house builders! The market has seen a slight spike since the alteration to stamp duty thresholds and this is giving developer a little more confidence in the market. This last week I’ve had many conversations with house builders looking to take advantage of what we hope to be a reasonably strong market for the next 12/18 months… we just need more opportunities to supply the demand! - Chris Evans, 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.

Kind regards,

Dominic Murphy

Managing Director – DM & Co. Homes

WhatsApp me on 07595 903 811