Market Review Summer 2006

Nigel Sellers, Director of Premier Property Search, reports on 2006.

As 2005 unfolded, the market became quite tough with negotiations and deals harder to arrange. When agreed, the deals were even more difficult to get through the conveyance process to exchange of contracts.

Premier Property Search did however, increase the total number of properties purchased with the average value of transactions being at an all-time high.

The 2005 autumn and winter months were surprisingly busy with a plentiful number of quality character houses in good locations available to view. The increased level of activity, combined with committed clients who were in a position to transact on the right property, proved to be key to success for the last few months of the year. 

More interest in Premier Property:

• Enquiries to use the services of an independent property consultancy were up year on year by over 31%  

• The total number of clients who used Premier Property Search services was an increase of 27% year on year 

• During 2005 we purchased 17% more properties and rented 54% more than in 2004

Increased budgets:

Over 56% of our clients have an average budget in excess of £2.4million to spend;
Our average purchase price of properties purchased was the highest for the eighth consecutive year;

Getting ahead of the market

Of the 16 ‘serious’ houses purchased for clients during 2005, 13 were agreed and purchased prior to their being marketed.

In addition, our records show that:-

• 63% of our clients are relocating from London;

• 9% relocate from overseas;

• 23% have already moved into the area and realise they need professional and independent help in finding and buying their ideal property;

• 3% buy for investment, 13% buy a weekend retreat, 81% buy as their principle residence;

• Property values range from £430,000 to £6.6million in 2005.

The biggest single challenge is managing the expectations of the discerning buyer. With continual, and often conflicting comment, from property pundits, the reality of the top-end of the property sector can at times be in direct conflict to the reported conditions of the market in general. Working with a ‘hands on’ approach all year round and in close communication with all the major, leading selling agents, Premier Property Search knows and understands the market well. Of course we give our view from the opposite side of the table from the selling agents, and we feel that we put forward a more ‘realistic’ view than their sometimes over-hyped tone.

2006 and beyond

Although the housing market in 2006 was predicted to be positive but uninspiring, we at Premier Property Search have been exceptionally busy. Prices are increasing slightly, but the days of the raging house price growth are behind us! The geographical areas, in which Premier Property Search
operates, predominately the prime south and south west regions, continue to outperform the national average within the country house market sectors. With 15 years representing property buyers, predominately in the Home Counties, combined with an unrivalled and enviable track record, 2006 finished as another record-breaking year.

If you would like to find out more about how we can help you secure your perfect property Contact Us and we would be delighted to talk.