Every spring I marvel at Mother Nature’s amazing ability to awaken the countryside from its winter slumber and this year the same seems to have happened to the rural property market. Over the last six months the market appeared to settle down somewhat after the post-pandemic madness when properties were literally ‘flying off the shelf’. With concerns about rising interest rates and looming war in Europe, buyers were being more cautious and sellers were holding off putting properties on the market.
However, the last few weeks have seen a change in attitude with sellers keen to get on the market as soon as possible and buyers queuing to view. Ever the analyst, and constantly intrigued by the property market, I wanted to understand the drivers behind this renewed activity. In a four-week period we are launching six very different properties in the Shropshire, Staffordshire and Cheshire area. From a 135 acre former dairy farm to a two bedroom cottage, the properties are all very different but the reaction from the market is the same - viewings, viewings, viewings. A four acre smallholding in need of some tender loving care attracted two serious potential buyers, sold and ready to go, within two hours of being launched onto the market. The madness seems to have returned.
Two of the properties are from deceased estates where there are either multiple beneficiaries or where the sole beneficiary doesn’t want to inhabit the house. One property belongs to a widow who is looking to downsize and move into town and other drivers include upsizing and relocation. The is also still a strong appetite in the market for a move to the country to embrace the ‘good life’ and this is largely due to the shift in attitude by many employers towards working from home following the lockdowns.
So - no apparent trends to report I’m afraid although what is very clear is that both buyers and sellers are looking for clear, honest and professional advice and there seems to be a move away from internet-based estate agents who merely host your property on their website and wait like chicks in the nest for a buyer to appear. The increase in our telephone traffic is considerable with buyers wanting to discuss properties with a human being rather than just browse the internet. Perhaps, even in the ever-increasing technological world we inhabit where we can ‘virtually view’ a property on our phone whilst enjoying the first cuppa of the day still in our pyjamas, the property market is returning to the old-fashioned value of ‘people buy from people’. Certainly, as far as I am concerned, this would be a welcome change.
If you would like to contact Annabel to discuss your property requirements call 01630 692500.