A boom in demand for properties in Plymouth has led to record numbers of homes selling for above their asking price.
Estate agents in Plymouth are being approached by huge numbers of buyers wanting quality homes. It means now is the perfect time to sell your home.
Across the UK, house prices are at an all-time high and properties are selling faster than ever before.
Latest figures show one in six (16%) homes sold for more than the asking price in March. This is the highest figure since May 2014.
A report by the NAEA (National Association of Estate Agents) shows that only a third of properties (33%) sold for less than the original asking price. This is the lowest number since records began.
It also found that an average of 12 sales were agreed per estate agency branch. This is the highest figure for March since 2007, when the number was also 12.
Plymouth is following the national trend
In the first two weeks of April, properties across the UK sold faster than ever previously recorded.
According to a new report by Rightmove, 23% of properties were ‘sale agreed’ in March within just one week.
Paul Preen, Managing Director of Lang Town & Country, says: “March was fantastic. Sales were up 29% on an average month compared to last year.
“Plymouth has certainly followed the national trend, and we’re often seeing multiple buyers for the same property.
“The increase in demand for homes in Plymouth shows no signs of slowing down.
“We have had three properties at the start of this week go to best and final offers due to high demand.”
All this means now is the right time to sell your current property – and your first step should be to get it valued.
Simply click here and we’ll do the rest and walk you through the process to make it as simple as possible.
Demand is outstripping supply
Buyers’ demand for quality homes continues to rise.
The main problem facing estate agents in Plymouth is that we simply don’t have enough homes for those we want to try to help.
The NAEA reports that the number of properties available per branch fell to 31 from 34 from February. This means there is an average of 13 buyers for every available property on the market.
Lang Town & Country’s Paul Preen explains: “With a lack of property stock and extremely strong demand, some estate agents in Plymouth are telling people they cannot view unless they are on the market themselves.
“This has, in effect, created a log jam, with people waiting to find a home before putting theirs up for sale. When they see a property they like, chances are it will sell before they go on the market.
“We advise people to get their property on the market and secure a buyer who is prepared to give them time to find a property.
“This way, when the right property comes to the market, they are in a prime position to make an offer.”
Lack of stock for Plymouth house hunters
The demand is incredibly high across Plymouth – particularly in the city’s waterfront areas.
Phil, Searle, manager of Lang Town & Country’s Waterside office, says: “The property market on Plymouth’s waterfront is very busy at the moment, with our sales increasing by 45% on the same period last year. However, new instructions for the same period have fallen by 30%.
“With fewer properties coming to the market, the demand has increased dramatically. As a result, we’re now seeing more than 50% of our sales being agreed to out-of-area buyers.
“These buyers are primarily looking for holiday homes, down-sizing or looking to retire to this area in the future – with their main criteria being sea views and balconies.
“We are also finding that a lot of buyers who would have traditionally looked to purchase a second home in Cornwall, are now choosing Plymouth as their first option.
“The main reasons are that the property prices in Plymouth are more realistic and the city has more to offer. It is also still very accessible from other parts of Devon and Cornwall.
“Now is a great time to sell your home and obtain the best price for your property.”
As Plymouth’s only dedicated waterside estate agents, we can help – and here’s how.
Maintaining the safety of our clients and staff
Despite lockdown restrictions starting to ease and a degree of normality resuming, safety remains paramount for our clients and staff.
Using guidance from the Government and industry professionals, we have put a number of measures in place – including virtual viewings and video valuations.
Marc Rees, Director, says: “We continue to ensure the safety of our clients’ homes and our amazing colleagues by keeping in place the Government guidelines of adhering to safe Covid procedures.
“Since before the pandemic started, we have utilised technology and created video tours which provide a valuable insight into the property layout and condition before a buyer steps across the threshold.
“This way of marketing a property is great for a number of reasons, in particular making sure only serious buyers view clients’ properties which internally saves time.”
Reach house-hunters across the world
Gone are the days where you could only market your home locally to people in Plymouth and the surrounding areas.
Now, thanks to our YouTube channel, Lang Town & Country is able to reach house-hunters right across the world on your behalf.
Since the start of the year, our videos have been viewed more than 1,000 times by people in Hong Kong alone.
In fact, we’ve even sold two properties in Plymouth to people who currently live in the Chinese region.
We’ve also attracted viewers from the United States, Romania, Vietnam and Canada.
Find out more about the global impact of our virtual tours here.
Why should I choose Lang Town & Country?
Lang Town & Country is established as one of the longest-standing firms of independent estate agents in Plymouth
For more than 20 years we have successfully guided clients through the house buying and selling process time and time again.
Our company is owned and run on a day-to-day basis by our Directors, who themselves have unrivalled knowledge in their local markets.
We take pride in the straight-talking advice we give.
Our team offers professional advice for the benefit of our client and not-for-profit margins, or targets closely associated with the estate agency industry. We also offer:
Bespoke marketing packages
- Competitive fee structure
- Zero-week contract
- Specialist sales progression department
- All viewings accompanied
- High-quality brochures with photography and floor plans
- No sale – No fee and no upfront costs
- Regular constructive feedback
- Licensed and qualified estate agents
- High-profile advertising on all major property websites
- Exclusive national marketing networks
- Friendly, honest and experienced local staff
- Discreet market appraisals in unbranded vehicles
How do I get in touch with Lang Town & Country?
Please do contact us and we’ll be more than happy to offer advice and a free valuation of your home.
Plymouth Sales – 01752 256000 / Property@langtownandcountry.com
Plymstock Sales – 01752 456000 / Plymstockoffice@langtownandcountry.com
Waterside Office – 01752 200909 / Waterside@langtownandcountry.com
Lettings – 01752 201010 / enquiries@langtownandcountry.com
Land & New Homes – 01752 278499 / newhomes@langtownandcountry.com
You can also get in touch if you have concerns about your property move or want reassurance on how we can do this while keeping you, our staff and the NHS safe.
We’ve also put together a handy guide to moving during lockdown which should help answer any questions you may have.
Please note: Our offices are closed to the public while we work remotely.
