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ABODA FINE HOMES

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FINE HOMES

Welcome to my blog

 

Here you can read all my advice, tips and property market knowledge about buying and selling a high value home in the Wisbech Town & Village area

By Alex at Aboda, Oct 10 2019 11:19AM

Here's a quick snapshot of what's been happening in our property market in the East of England:


House prices - The average price of a home rose by 0.7% in July compared to a year ago, according to the official UK house price index. Strongest growth is currently in Wales with prices rising by 4.2%.


Transactions - Confirming a small summer bounce, sales levels in August were 0.9% higher than a year earlier according to the HMRC. This is a significant turnaround from a -14.8% fall in July although momentum is not expected to be sustained into September.


If you would like a more detailed report of what's happening - please feel free to get in touch with ABODA Fine Homes - we are always happy to help!


Alex Doggett - Owner - ABODA Fine Homes



By Alex at Aboda, Oct 2 2017 07:46PM

Wisbech home values are still up 8% over the last 12 months and up 31% over the last 5 years - continuing to out-perform the national average of 5% over the last 12 months despite an 11% decrease in local transaction levels in the Wisbech area


Mortgage approvals have spiked by 11% nationally possibly by the impending interest rate hike


House prices across the UK rose by 5.1% in the 12 months to July according to the ONS, unchanged on growth in the year to June. Average prices are currently rising most strongly in the East Midlands which has seen 7.5% growth in the last year.


Mark Carney, the Governor of the Bank of England has indicated that interest rates will rise in the "relatively near future". Interest rates have remained at their historic low of 0.25% for over a year despite rising inflation. The Monetary Policy Committee who set interest rates will next meet on 2nd November.


1.09 million property sales took place in the year to end of March 2017, netting the Treasury £8,590 million in Stamp Duty Land Tax revenue. Revenue was up 11% from 2015/16 while transaction levels were down 8%. A substantial part of the increase is the impact of the 3% additional levy for second properties introduced on 1st April 2016, which contributed £1,705 million.


Mortgage approvals recorded a substantial annual increase of 11.3% in July, however this increase should be viewed with caution as it compares with the period immediately after the UK voted to leave the EU. Approvals were up 5.2% on June levels, however, suggesting a greater stability in the market than some expected to see.


Average rents across Great Britain rose by 1.6% in the 12 months to August, slightly down from the 1.8% growth recorded in the year to July. As well as currently seeing the highest rates of annual house price inflation, the East Midlands region is currently seeing the strongest annual growth in average rents at 2.8%.


Over the last 12 full months there have been 1,035 sales in Wisbech PE13 & PE14. This is a −11% change on the previous 12 month period. The average sales price was £172,034.


53% of homes sold were detached and 83% of homs sold were less than £250k


READ OUR FULL REPORT HERE

By Alex at Aboda, Dec 2 2016 08:48PM

Keeping you informed and helping you cut through the noise in the media about what is really going on in the national and local property market.


It's a brief yet informative and easy to read selection of key market trends, data and summary points that are worth noting this month.


Should you ever wish to discuss in more detail, please feel free to drop me an email and we can arrange a time to have a brief chat.


Thanks - Speak Soon


Alex



By guest, Jun 6 2012 11:45PM

Today's top tip is all about BEFORE you even think about calling up agents to interview them and put your home on the market in Wisbech.


It's all about "research".


If you already have a rough idea of what your home is worth, or what you'd like to achieve, there are various things you can research - what competition there is for your home, how agents market those homes etc


Simply pop into Rightmove or Zoopla your home's postcode sector (eg PE13), select 1 bedroom minimum (to remove any building plots, land, commercial property) and then select two-three price ranges above and below your expected sale price to obtain a suitably large enough pool of comparable homes.


Then simply check what your competition is for your home in the immediate area.


While doing this, you can also see who markets homes better visually in the immediate area - it's amazing how a nice, well-presented and composed photo with good lighting can have a hugely beneficial impact on the success of a sale.


Look for things like virtual tours, video, floor plans - the easier it is for a buyer to truly visualise your home, the easier it will sell to the perfect buyer.


I'm always amazed at how some sellers do not do this simple, common sense research before interviewing estate agents in the Wisbech area - and have later wished they had done so before instructing an agent - and live to pay the price with the poor results in the marketing of their home.


It's free, costs you absolutely nothing (other than a few minutes of your time), but will pay off when you are ready to interview estate agents in the local Wisbech area and market your home for sale.


As always, I am more than happy to talk about any property matters you have or advice you need.


I'm Alex - Owner of Aboda Homes Estate Agents Wisbech.


Call me: 03333 440773 or Email me: alex.doggett@abodahomes.com


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