There is much speculation surrounding the property market and rightly so, house prices are always a hot topic in any town but this year especially. The external factor of the imminent EU Referendum will inevitably have an effect on the market one way or the other, investors from overseas will be most affected more so than us plucky Brits. Alongside the ongoing Brexit discussion the housing market itself has two factors that could be dampening buyers appetites, the recently increased SDLT (stamp duty land tax) for second homes/buy to let property and the continued rise in reported prices, 2% in March alone for the South East region (rightmove).
As a result we were sitting on the fence when asked about our market prediction for the coming months before we opened our doors in Marlow. However, barely 4 days have passed since the Mayor Bob Johnson officially opened our office on Spittal Street and the market conditions have become immediately apparent.
Buyers are looking to buy and are as keen as ever! Lots of active house hunters have already stopped by, trying to ensure they are at the top of our growing buyer list; the plan – snap up any property we take instructions on before the chasing pack. We have registered a hugely diverse range of buyers this week, some of them extremely quick off the mark on noticing our new window display.
The most popular criteria amongst these buyers is for property within walking distance of the High Street, understandably. ‘Parking would be nice and so would a little garden’ says one buyer, but on further discussion either would be compromised on for a well located house. Requests for more rural character property have been notable too. Our window showing examples of our previously marketed and sold property in the charming Cotswolds and wilds of Warwickshire has prompted buyers looking for less urban locations to pop in and put their name down.
The buyers with the highest budgets so far are looking for character properties with modern interiors in village locations, anything from £1.2m for a 3 bedroom up to £2m for detached family houses. When asked about price ranges one buyer replied ‘I have no set budget, but I want a special property and if the house is right I’ll pay the money’.
This confidence and eagerness belies the aforementioned conditions that could so easily be dissuading buyers, no such reservations are apparent and the ever popular riverside towns in the South Bucks region are still property hot spots.
So, with Spring upon us in Marlow, there only seems to be one thing on the agenda….
Keep Calm and Buy Property
Simon Stone is the Director and Owner of Barker Stone Estate Agents based in Marlow covering the South Bucks region.