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Insight into current property buyer and seller behaviour

The new year has barely started but our team has already been very busy organizing Closing Dates and sales on behalf of our clients. The influx of buyers taking advantage of the affordable mortgage rates in 2018 keeps coming into early 2019 with many active vetted buyers competing for the limited stock available.

So where does the shortage come from and how come the market has more buyers than sellers?

Firstly, let’s take a look at sellers’ demographics. We currently see very limited stock coming to the market; homeowners sell their homes when their life circumstances change and they must make a move on the property ladder. We see sellers moving home because of careers, because of changes in personal circumstances, or families that grow and need to go up to a larger home, etc. But we don’t see many aspirational or speculative sellers, who simply want to move in order to upgrade their living conditions, most likely because of the more general atmosphere of uncertainty.People are holding off on moving up the property ladder until the outlook starts becoming clear.

At the same time, in terms of buyers, the affordable and fairly relaxed mortgage landscape fuels first time buyers who have come on the market in record numbers in the last year. Also property investors looking for good yields have continued to look for good opportunities; Scotland in particular performs well above UK average in terms of return on property investment, especially in some local pockets.

In other words, the market’s imbalance is due to continue as long as the available stock is surpassed by the current demand. We advise sellers to take advantage of the conditions and call our team to discuss their next property move as they are most likely to achieve a great price for their home.

If you would like to find out more about selling in 2019, read our blog on moving on the property market this year.

As one of West of Scotland’s longest established estate agents, we’ve helped families across the country buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.

3 steps to moving on the property ladder in 2019

With home owners moving home almost 3 times less now than in 1988 (according to a Zoopla survey, people spend 23 years in a property before they move as opposed to 8.63 years back in 1988), you might be forgiven if you don’t exactly remember the exact ins and outs of property sales. While it might seem like a daunting process, it can actually be straightforward, especially when you have a local estate agent like ourselves on your side.

Whether you are moving up or down the property ladder, these are the three steps you need to consider.

Make Caledonia Property your first port of call.

Our local property agents will help you get an idea of the current value of your home and of any local property trends you need to be aware of. We offer free, no obligation valuations so take advantage of our service! That will give you an idea of your starting point in building a budget for your next home.

Preparation is key ahead of listing your property on the market. Homes have been selling more quickly in Scotland than in any other part of the UK in 2018 (source),so you need to be aware of the fact that in general properties in good condition get lots of attention from buyers and sell quickly.

Not only will we make sure your home sells for the best possible price but we can negotiate the date of entry on your behalf as part of our service so you will be able to line up your moving out date with your moving in and avoid unnecessary stress.

If and when ready, instruct us to sell your property and we’ll endeavour to find the right buyer and achieve the best possible price on your behalf.

We can be as involved as you need us to be, from taking photos, creating floorplans and brochures, managing the listing on property portals to organizing viewings and taking care of negotiations. Selling your home can be a taxing and emotional moment, so having our experienced team on your side to guide you will give you further peace of mind.

In the mean time, speak to a mortgage advisor and figure out your mortgage options and exact budget.

Because of the current increased competition amongst buyers, it is very important that you are ready to make a quick offer when you search for your next home – otherwise you risk losing out to other buyers who are more prepared. A mortgage agreement in principle will give you an extra edge in securing the home of your dreams. Interest rates are projected to stay low throughout 2019 (source), which will make the perfect conditions for an affordable mortgage.

Of course, if you are looking at downsizing, you might be in the enviable position of paying for your next home in cash, which will make the process less complicated in terms of financing.

By this point you will have a clear idea of the price your property will achieve on your property, your options for your next home as well as the costs associated with the move. Just remember, we don’t charge an upfront fee, but only get paid on the successful sale of your property.

We wish you best of luck in your next home search!

As one of West of Scotland’s longest established estate agents, we’ve helped families across the country buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.

Starter homes and investment opportunities for 2019

We hope you are spending a fantastically relaxed holiday together with your loved ones! If property ownership is on your mind, you are not alone, as many of us take the opportunity at this time of year to consider their next step on the property ladder.

We have rounded up a few property highlights currently available that would suit first steppers and/or property investors to kick start your search:

Dumbarton Road, Clydebank G81 1HS

 Offers Over £33,995

Fantastic Opportunity for first time buyer to get on property market- 50 % Shared Ownership – Monthly rent payable to Clydebank Housing Association is approximately £144.00 per calendar month. Full details here.

Greer Quadrant, Clydebank G81 2AY

 Offers Over £62,500

Charming One Bedroom First Floor Flat located within the popular Clydebank ideally suited to young or old alike or first time buyers. Early viewings are highly recommended. In good decorative order throughout. Find full details here.

Ashtree Court Old Kilpatrick, G60 5JD

 Offers Over £69,995

Rarely available, well proportioned upper floor maisonette flat situated in a refurbished building and located within a sought after area. Find full details here.

Littlemill Place, Bowling G60 5BJ

 Offers Over £149,995

An outstanding and extremely rare ground floor apartment within the popular village of Bowling with the added advantage of private garage. Find full details.

Ivanhoe Road, Paisley PA2 0LF

 Fixed Price £70,000

Offered to the market is this spacious mid terraced villa situated within a popular Foxbar address. The property is in need of some modernisation and upgrading allowing any future buyer to style the property to their own unique taste. Find full details here.

Chirnside Road, Hillington G52 2JU

 Offers Over £82,500

Offering to the market this well presented upper cottage flat with family size accommodation. Situated within a popular location and close to local amenities. This property would be a perfect downsize for a retired couple or as a first property for a young couple. Find full details here.

As one of West of Scotland’s longest established estate agents, we’ve helped families across the country buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.

Expectations for 2019 property market

As we are nearing the end of 2018, our property experts have put together what we foresee will be the biggest factors influencing the local property market in 2019, based on current information. 

Brexit

While the media covers Brexit with daily news, it is easy to get distracted by the many unknowns March 2019 might bring – with some possible outcomes predicted to have a lasting impact on the housing market. However, our local experience confirmed by recent Zoopla research, shows that the majority of Scots are optimistic about property values increasing in 2019, with 53% agreeing property values will rise regardless or Brexit.

Our property experts recommend you don’t get deterred by general doom and gloom, set your own agenda for your property goals and speak to a local experienced agent that can advise you on the various micro trends depending on location of your property and the many other factors influencing property values.

Stock shortage

Driving prices forward in 2018 was the fundamental imbalance between supply and demand. What this means, is that as long as there are plenty of keen buyers, but a lack of good stock, property prices will continue to be pushed upwards. 2018 has seen homes in good condition being quickly sold at fantastic price points.

Our property experts recommend: if you want to achieve a good price and catch the eye of current savvy buyers, your best bet is to invest in cosmetic upgrades that go along way in adding value to your property before putting it on the market. Just speak to one of our experienced agents and they will be able to advise on how to spend your home improvement budget so that it adds the most to your property value.

Affordable financing

The active buyers we have seen on the market have been fuelled in recent years by the affordable financing options available. With many financial products from many lenders as well as a relatively low rate from Bank of England, buyers are spoiled for choice which keeps the property market financed and active. We believe this trend will keep into 2019, which means you will still have plenty of choice in financing that dream home.

Our property experts recommend: speak to a local experienced mortgage advisor who can understand your circumstances and offer the most suitable choices for your needs.

Local pockets/hotspots

West of Scotland has seen healthy property price increases overall; as usual, good schooling, commuting options as well as local amenities have an impact on value of properties. That being said, due to the increase in online delivery services, remote properties have increased their appeal too with many finally able to see their dream of living in a tranquil, picturesque location come true without sacrificing on comforts. 

Paisley with its bi for City of Culture 2021, has seen visits to the town and surrounding areas rise by 17% over the last year outperforming the rest of the Glasgow City Region.

Clydebank is subject to a massive regeneration project in the next 7-10 years, so again, one to watch in terms of property investments. Villages like Cardross or Duntocher have character and appeal which means they will continue to be an interesting proposition for a certain market demographic.

The importance of local service

If you are thinking of making a move on the property market, don’t get trapped in a fixed fee arrangement with a corporate agent. You will have to pay that fee regardless of the outcome – so we suggest instead you speak to a local experienced property agent like ourselves who only gets payed upon the successful sale of your home. Not only that, but we are a local company, keeping offices on your high street, hiring and training local people and making business locally.

As one of West of Scotland’s longest established estate agents, we’ve helped families across the country buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.

The place to bag a property in need of renovation: Greenock, Scotland

There was a time when flipping properties made great theme for TV shows: visually and financially, turning old properties into picture perfect homes made for great television. In the meantime, many caught up to the fact that a property with potential can be valuable the difference in the final price achieved is no longer as dramatic as it used to be. Continue reading The place to bag a property in need of renovation: Greenock, Scotland

Traditional or modern? Minimalistic or eclectic? What is your ideal home style?

A fantastic perk of our trade is meeting new people every day, discovering their tastes and unique personalities that reflect in their homes. As no two homes are the same, different styles fit different personalities. Here is a roundup of various different styles of home currently in our books to inspire your home search: Continue reading Traditional or modern? Minimalistic or eclectic? What is your ideal home style?