Week 43 - The Solihull Property Market

I have had an exciting week, lots of activity and a handful of projects that I am getting drafted in and out of - however, I was really disappointed at the actions of a fellow ‘agent’

Said ‘agent’ passed by a house that my sales team had just been instructed to sell.

The ‘agent’ caught the owner on the drive and was disappointed to find out that he had not been instructed.

Sadly he turned to attempting to tarnish my businesses reputation.

I am disappointed at how pathetic this industry is.

There is a reason estate agency and agents have a bad reputation, 99% of the time it is of their own making.

This isn’t the first time such things have happened and it won’t be the last, I just wish the industry would tidy itself up.

Maybe it’s a sign of the times, number of properties to sell is ‘low’ a little desperation creeping in?

Until this industry is regulated, cowboys will continue to be allowed to operate and ruin it for those that actively care about delivering the best result for the client.

If it were more focussed on doing just that, the local market would be in far better shape!

Here is a balanced view of that market from across the business, I am going to kick things off with Gabrielle and her take on all things ‘Lettings’

The overall property market is being described as unstable (so the media says) but I am yet to be troubled by it myself...I'm even selling my own home right now! Reality is that people still need & want to move home. Upsizing, downsizing and relocating are just a few reasons why our clients are moving. My team are about to witness their best month yet. One of my Landlord Club members normally rents his properties himself but having a full time job, he is a bit too busy for his new investment purchase. I was over the moon to be given the instruction, I know this guy knows what he is doing but not only have we saved him time, we have a group viewing with an asking rent of £50 more than he was expecting! I would ask all those none agent landlords to give me a call, you could be undervaluing your property and more importantly, at great risk of not being upto date with new compliance!

Do you have savings just sat there, gaining little interest, but not sure what to do with it? You could be investing that into your future...Join The Landlord Club today by clicking here or picking up the phone and getting in touch. - Gabrielle Argue, Head of Lettings.

Over now to Sales Director, Lisa Smith…

With the end of October in sight, I thought I would give an update on the sales activity from the team in Dorridge. With the last month being so turbulent you would not expect for us to have had the best month in sales for 3 months – BUT that is what has happened!  We have sales agreed on 14 properties so far this month with more under offer. The team have worked so hard,  not just selling our vendors homes but also finding them somewhere to move to!  There has been a variety of reasons for selling; 7 are moving out of area, 1 moving to a sheltered accommodation, 2 deceased estates, 2 separations and finally 2 landlords reducing their portfolio.  I hope this demonstrates that there is always a reason and motivation to move, and I don’t believe that this is going to suddenly stop. Yes, there may be those who are in no hurry or and will watch how the market unfolds, but there are still those who are looking to move, and there are still buyers searching for their new home or investment.  If you would like some advice on the local housing market, pop into the office or call me and I would be happy to chat or arrange to visit you to discuss things in greater detail. - Lisa Smith, Sales Director and Dorridge Branch Manager.

I caught up with Kathy Griffiths earlier in the week, she had one message for me - MORE property required between one and one point five million across Solihull. We have families relocating from the south that are in direct contact via relocation agencies and want to be buying within the next 6 months. So, if you are sat thinking about downsizing, take advantage of the momentum in this market - there is very little quality stock out there, most of which is changing hands behind closed doors and on a low-profile basis. Call Kathy or Elaine at the office on 0121 775 0101 (Option 4) to find out more!

Last but no means least, here is an update from Victoria within the Solihull Team whilst Peter takes half term of with the family!

This week has been slightly quieter due to half term however still a very busy week for sales in the Solihull office. The negativity we read in the media and the general uncertainty in the country has definitely meant we are having a lot more discussions with both buyers and sellers reassuring them and discussing various different sales options. Things are definitely not as they were four weeks ago let alone a few months ago. It’s worth listening to all advice available and the guidance of a trusted financial advisor in these testing times has never been more valuable to help understand your finances for your potential sale and purchase. Now that we have a new Prime Minister it will be interesting to see what the next few weeks hold. One things for sure, the local market continues to move - so get in touch if you would like to put your house in front of this markets most active buyers!

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