Date: November 2009
MARKET COMMENT
To Sell or Not to Sell in 2010?
Will prices go up and when is the best time to make a move during election year?
A General Election will usually affect the housing market, with activity traditionally slower during the run up to the election. Sam Butler, senior partner at Cotswolds property specialist Butler Sherborn, says: “Those wanting to sell their home next year should not let the election put them off, nor should they wait another six to twelve months in the hope of seeing a significant increase in the value of their property.
“I have seen no evidence of house prices in the Cotswolds rising over the past 18 months. The recovery will be steady but slow for the next 18 months. The market has improved in that there is greater turnover (a larger number of transactions) but prices have not generally increased. Buyer’s confidence is fragile and they are easily put off by aggressive prices or deadlines.
“I also see no clear advantage in adopting a ‘wait and see’ tactic; don’t hold back for an extra ten per cent, you are unlikely to get it. However, if you put your house on the market in 2010 at a realistic price, you should find a buyer, as seller and buyer expectations are closer now than they have been for many years.
“I’d recommend the best time to market your house is either early in the New Year with a view to selling well before the General Election, or from mid to late May when election-fever calms.
“While timing is important, it is also essential to ensure you have everything in hand for a clean swift sale; buyers can be nervous so don’t give them a reason to pull out. Preparation is everything. Take a long critical look at your home; imagine you are viewing it for the first time from a buyer’s point of view.
“First impressions count. Do all those tidying jobs you’ve been putting off. Outside, this means filling in the potholes in the drive, mending damaged fences and sorting out the garden so it is always presentable for viewings at short notice. Inside, de-clutter and decorate if it needs it.
“However, it is not just about good looks. There’s the paperwork. Have a log book for the house, so all the answers to any questions are instantly to hand. Ensure all legal work is up to date, such as agreements, covenants and planning or listed building consents. You’ll also want your buyer to feel they are in a good environment so if you have any unresolved issues with your neighbours, now’s the time to settle matters.
“Of course, if you’re in no hurry to move you could wait a couple of years, when I would expect to see the first significant property price increases. However, for many, the need to move sooner rather than later is influenced by various factors, including the need to buy a bigger family house or a move to be nearer a good school. Or perhaps the children have flown the nest and you want to downsize.
“Whatever the reason, I would encourage anyone hoping to move in 2010 not to put their lives on hold, but to go ahead and put their house on the market. After all, selling your property is like fly fishing; you’ll only catch a fish by having your fly on the water!”
Sam Butler has 30 years experience in the estate agency business and established Butler Sherborn 18 years ago, with offices located in Cirencester (tel: 01285 883740), Burford (tel: 01993 822325) and Stow-on-the-Wold (tel: 01451 830731). Further information is available on www.butlersherborn.co.uk
Properties currently on the market through Butler Sherborn: -
Kencot House, Kencot, Oxfordshire. Offers in the region of £1,650,000. Tel: 01993 822325
Kencot House, situated to the northern end of the unspoilt village of Kencot, on the Gloucestershire/Oxfordshire borders, is an outstanding Grade II Listed property. The house dates from the early 18th century with seven bays at the front, arched keystone heads to some windows and a front door with an open pediment on Tuscan half-columns.
At the back the style is quite different, with Gothic windows and a battlement parapet. The property includes an old stable block, which was originally a chapel built on the site of an old monastic settlement. The 13th century Norman archway situated at the chapel’s end still exists today. The clock in the tower is 18th century. The old stables would convert to provide superb secondary accommodation subject to planning consent.
The beautifully presented accommodation over three storeys includes: entrance, inner and rear halls, a study, dining room, sitting room, conservatory, kitchen/breakfast room with gas-fired Aga, pantry, larder, utility room, office, laundry, boiler room, six bedrooms, two bathrooms, four loft rooms, a separate coach house and a summer house. The gardens, registered with the National Gardens Scheme, are superb; there is an additional paddock. In all just over 8 acres.
Burford and Lechlade are each five miles away, Cirencester 16 miles, Oxford 23 miles. Didcot railway station runs services to London Paddington with a journey time of around 45 minutes.
Quarry Point Cottage, Bibury, Gloucestershire. Tel: 01285 883740
Quarry Point Cottage lies in the Coln Valley, surrounded by beautiful countryside, between the villages of Barnsley and Bibury. While the property dates back to the 18th century, it was extended in 2006, with its original charm and period features such as mullion casement windows, exposed beams and stone fireplace in the sitting room carefully retained.
The accommodation includes on the ground floor a kitchen, with an oil-fired Aga, utility room, larder, study, sitting room, cloakroom and a conservatory offering wonderful views of the established garden.
Three bedrooms and a family bathroom are located on the first floor. There are a number of outbuildings and a single wooden garage.
Cirencester is six miles, Kemble (with train services to London Paddington 75 minutes) eight miles, Cheltenham 20 miles and Oxford 28 miles. The M4 J15 is 21 miles away and the M5 J11a is 18 miles.
Lilac Cottage, Sopworth, Chippenham, Wiltshire. Offers in the region of £440,000 Tel: 01285 883740
Lilac Cottage, situated in the village of Sopworth, on the edge of the Badminton Estate, is an attractive period semi-detached cottage with a host of original features including exposed beams throughout. The well-appointed kitchen has a bread oven, a Welsh slate floor and two stable doors that lead into a beautiful garden.
The sitting room has an impressive fireplace. Two bedrooms and a family bathroom are located on the first floor and a third bedroom fills the second floor.
Sopworth is superbly located with Chippenham and Tetbury seven miles away, Bath and Cirencester less than 19 miles and Bristol around 23 miles away. The M4 J18 is ten miles away. Kemble railway station, 15 miles, runs services to London Paddington with the journey time around 75 minutes.
The Long Barn, Fyfield, Oxfordshire. Tel: 01993 822325
The Long Barn, situated in the attractive hamlet of Fyfield, is a single-storey converted farm building that dates back to around 1850. This impressive property has been converted into a particularly spacious and light home, with the quality and finish of a very high standard. Modern touches include underfloor heating. The entrance hall opens into a dining room. The well-appointed kitchen/breakfast room includes Miele integrated appliances. The master bedroom, with a dressing area and a large en suite bathroom, has French doors, with exterior shutters, to the courtyard garden. Three further bedrooms are located at the other end of the barn; one has an en suite shower room while a family bathroom serves the remaining two.
Long Barn is surrounded by beautiful gardens. The garage is currently used as a games room. Additional buildings include a workshop and a wood store.
Burford is seven miles away, Cirencester ten miles, Swindon 12 miles and Oxford 26 miles. Swindon railway station runs services to London Paddington with the journey time around 60 minutes. The M4 J15 is 15 miles away.
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Note to editors:
Issued by:
Anne Toomey
anne.toomey@lawsonclarke.co.uk
Sue Hitchcock
sue.hitchcock@lawsonclarke.co.uk
LawsonClarke PR
Tel: 01285 658844
Fax: 01285 650080
Ref: BS03/2009
