3 THINGS ESTATE AGENTS DO IN YOUR INTEREST THAT YOU MAY NOT KNOW OF

There has always been speculation and negative talk on Estate Agents, but we’re here to turn that around as we work closely with the agents on our portal. We’ve now curated a list of 5 things Estate Agents do in your interest that you may not be aware of:

TIP #1: Area Research

Estate Agents make sure that they have an in-depth understanding and appreciation for the community they are serving, as this will better their chances in assisting you in either selling your property or buying one. Either way, them having a closer understanding of the area benefits you in general.

TIP #2: Market Research

Estate Agents strive to be on top of the property market as this will aid them in negotiating prices with Landlords or vendors as well as helping you to understand when is the best time to make an investment in regards to anything property related.

TIP #3: Support other local businesses

Agents are always getting involved in local community events or supporting other local businesses in the area via sponsorships, campaigns and etc. Doing this allows Agents to have a close tie with the community and also, in turn, become your tour guide into the community.

So these are just things that Agents do in your interest!

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Also if you have any tips that you could recommend to us, share them in the comments and we’ll be highlighting them in our upcoming articles on Estate Agents and their services.

 

WHAT BREXIT MEANS FOR THE PROPERTY MARKET

19 June was an important day for the history and future of the UK, as that is when the Brexit negotiations are to commence. One question that has been buzzing among the property sector and its followers is, ‘How will Brexit affect the housing prices and property market in the UK?’, and that is more than understandable.

So we’ve curated a short list of things that we are currently seeing and that we at Property Property Property believe we’ll be seeing soon, within the market:

Negotiations

As mentioned above, negotiations have taken place from Monday 19 June 2017 for the after-effects of the Brexit vote. These negotiations between the UK and EU will determine the state of the economy, which will also then determine the outcome of the housing market. However, we also believe there will be talk on trading, which may also affect the number of houses and flats springing from the ground in places such as London.

Market Fluctuation

As many people are wary about the value of their home or purchasing a property post-Brexit as they’re not too confident in what the market will hold, and neither are we as we are yet to see any significant difference in the market. However, reports have shown that the number of house purchases since the Brexit vote has dipped and we believe we’ll continue to see fluctuations in the market for the next few months until the economy has been stabilised.

Speculations

There has been some speculation within the property industry on what Brexit will actually mean and how it’ll affect us. However, a survey of forecasts was taken by the Investment Property Forum in the latter part of 2016, have shown that the capitals value in commercial real estate is predicted/expected to fall by 3.6 percent in 2017. On the country to that, rents have been predicted to remain high.

Nevertheless, these are all speculations and predictions based on the small changes that may have occurred the weeks leading to the Brexit vote and the weeks’ post-Brexit vote. What we are most concerned about is the future of our property market.

So at Property Property Property, we’ll like to know what your comments and thoughts are on Brexit and how it may change out property market.

Manchester Property Prices Rising

Manchester has seen property values in the city have risen by 6.92 percent in the last 12 months, with the average home now worth around £162,000. However, across the whole of the UK, house prices rose by 5.14 pc in the year to July seeing the average move up to £226,185. According to the report, the total value of all homes in the UK is £3 trillion, with two-thirds of the total in the capital.

According to a new study, Manchester’s property market is the third most valuable in the country. Hometrack research found that houses in the city are worth a total of £133bn, behind London and Birmingham, which with housing markets worth £1.99 trillion and £152bn respectively.

Estate agent Ged McPartlin, from Ascend Properties, says news of Manchester’s housing boom comes as no surprise.He said: “The north is certainly booming as the latest Hometrack report has revealed that Manchester is the best city for growth – experiencing a strong increase in house prices.This, along with the total value of homes being worth a huge £133bn creates a truly thriving property market which is showing no signs of slowing down anytime soon.From an agent’s point of view, these figures truly reflect what we’re seeing in the marketplace.Buyers understand that the market is moving fast, competition is rife and it’s generally fastest fingers first. The demand has continued to push prices up and the lack of stock has created marketplace urgency.There’s also been an increase in landlords snapping properties up in the city, particularly throughout June, July and August, as the new university year creates a rush of tenants desperate to secure a decent property before the term starts.It’s been a very busy summer and the growth reported today clearly reflects this.”

The study also showed that mortgage debt in Manchester came to a total of £32bn, while housing equity – the difference between the home’s market value and the outstanding balance of mortgage payments – came to £100bn.

Richard Donnell, research and insight director at Hometrack, said: “House prices continue to rise on the back of sustained price inflation in large regional cities as unemployment falls and mortgage rates remain low.”