Where, What and When to Buy Property?
James Baldry, Managing Director of Sales at Bridges tells us about the property market.
As buyers and sellers settle into the fact that uncertainty is pretty much a certainty in this day and age, property transactions are still buoyant across the area. We have always lived in a property market of different motivations, those that have to move, those that would like to move and those that have no inclination of moving, until that right property comes up and they make the plunge.
House price growth has been highest in the South East and London
In the transient world we live in, where careers no longer keep you tied to one location due to the increase in the ‘work from home’ brigade, moving in and out of areas isn’t the big step it used to be.
Certainly our Farnham, Frimley and Fleet offices have seen a huge increase in the demand for family homes. Reminiscent of the Beaujolais Noveau rush of the late 1980’s these areas are pin pointed for the schools and the clamber to try and secure a place in one of these much coveted learning facilities is a sight to behold as ‘catchment area’ becomes the in phrase.
Bring something to the market with open plan living / dining / kitchen, throw in some white walls and a roof light and you know you will have a bidding frenzy on your hands, however, the savvy out there are taking it to the next level.
Thinking of the old adage of buy the worst house in the best road, dated bungalows have been given the phoenix treatment of rising from a cloud of dust with shiny glass facades and spiral staircases, houses have been double in size and in some cases the now you see it no you don’t of demolition and reconstruction has been allowed on some prized plots.
‘Paul Smith, chief executive of haart estate agents, said: “House prices today prove unshakeable, as home buyers are now paying 1.3 per cent more for their homes than they were pre-Brexit.’
There is no better time to buy then now. Mortgage rates are low and set to stay low, the help to buy scheme is available for first time buyers and property prices are still forecast to rise.
The more densely populate areas that we operate in of Aldershot and Farnborough have been taken over by not only those looking for a fantastic buy to let opportunity due to the industry in and around these towns, but also by the savvy first time buyers looking at capital growth.
Farnborough in particular has seen a huge regeneration over the last few years and with a mainline station getting you into Waterloo in approximately 38 minutes, it has become a haven for those coupling value for money with convenience. With modern apartments being built with the millennials in mind, they generally come fibre enabled and with built in appliances making them an excellent purchase and with space for further growth in the market.
All in all, it’s a great time to be in the property market whether you are buying or selling, the key is do your homework, come to the market prepared, educated and with a strategy to make the move a reality.
Thanks to Bridges the Team
Bridges offer free advice on any aspect of your move in any area on 01252 361550.