Monthly Archives: June 2015

Market Review

RAFAs we approach the half year stage, the second quarter has been very much like the first with properties selling fairly briskly, if priced correctly. With the exception of the two weeks prior to the General Election the year has been consistently active.

Although the Council of Mortgage Lenders (CML) have reported that lending is down 3% in May this year to the same month last year, this is likely to be due to shortage of properties coming onto the market.

At the moment most estate agents are inundated with new potential buyers registering but unfortunately there doesn’t seem to be the supply of properties to meet demand.
However we have seen some fantastic properties coming onto the market that are not selling, this is due to inaccurate overpricing. Some sellers are trying to name their price in the hope that buyers will pay it due to shortage of choice. In general it appears that buyers are not willing to pay over the odds for a house and would rather stay where they are, than run the risk of being caught out by any future change in prices.

The rental market is currently booming with record rents now being achieved, again due to lack of supply and strong demand. The number of potential tenants looking for property is at an all-time high.

The big questions are, have prices now plateaued? Is there any further growth in local prices?

As far as Richard James is concerned, we are more than happy with our performance in this second quarter. According to Rightmove data, since 1st January 2015 our Wellingborough office has agreed 90 sales with our closest competitor agreeing 64 sales and our Irthlingborough office has agreed 58 sales with the nearest competitor agreeing 14 sales.

Our half year performance illustrates that working seven days a week, accompanying every client to viewings, high quality marketing and great customer service statically gives our vendors the best chance of selling over other local agents.

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Every Little Helps!

TescoWe have recently had two adverts installed at the entrance to the local Tesco store in Wellingborough. Both promotional adverts are one metre tall and convey the message as local property experts, we can tell what your house is worth.

We have received positive feedback from customers old and new who see our advert each week as they do their weekly shop.

If you want to know how much your house is worth, ask us!

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