Monday, 23 July 2018

'Watch out, there could be a sting to spring'

'Watch out, there could be a sting to spring'

HENLEY’S most recent addition to its estate agent offering, Penny & Sinclair, has been having a very busy January.

James Donigan, director of the agency’s Hart Street branch, has reported an “extremely busy” start to 2017, with 20 valuations carried out so far and new buyers registering daily.

James said: “I have been spending time with many potential sellers, advising on when best to launch to market. As is expected, the majority wish to hold off marketing until their gardens are looking more cheerful in the spring.”

But James adds a cautionary note, which Standard Property thinks has legs.

He said: “Trying to predict the market is always difficult, however with the government’s promise to trigger Article 50 [the formal beginning of the two-year exit from the EU] by the end of March, this could result in buyers temporarily holding off on making any significant decisions — as we saw with the Scottish referendum and more recently the 2015 general election.

“Couple a short-term loss of appetite from buyers with a glut of new property, and the spring market could lack its usual pace.”

In a nutshell, he’s saying that if you wait to put your house on the market until March/April, you’ll be competing alongside a lot more houses going on the market at that time, as well as hedging your bets alongside political unknowns.

Even at the start of the year, James has a whole raft of buyers looking to move into the area. He said: “My advice is to avoid delay and bring forward plans to sell while there is a relative lack of competing property.”

Penny & Sinclair has recently launched two such properties — the first of which, Rushton House, is a detached family home on Church Lane in Peppard, listed for £1,200,000 with a fabulous garden and more than 2,800 sq ft of accommodation.

Just under the million mark at £950,000, second property the Old Forge, located behind the Toad Hall garden centre, is a character home ideal for downsizers with fabulous living space including a vaulted kitchen-dining room.