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Introduction:
There’s no denying it’s been a hectic two years for the property market as a result of the global pandemic prompting a huge surge in house buying activity.
While some of that initial burst caused by stamp duty holidays and changing lifestyle priorities has maybe calmed, prices remain high.
If you didn’t sell last year and you’re worried you missed the boat, fear not, because all indications are that it’s still a sellers’ market.
We start this year with less homes on the market, but continuing demand from buyers. This is expected to push prices up a further five per cent, as predicted by Rightmove. In fact, Rightmove has reported that buyer demand per property was at near record highs at the end of last year and this is expected to continue. Their figures suggest demand in November was up two per cent from the busy 18 months before, and up a remarkable 40 per cent compared to November 2019.
The Midlands remains one of the most competitive markets, where prices could increase by seven per cent, so it’s still a good time to sell in Leicester.
The caveat is that the pace of rises is expected to be slower this year, and in particular during the second half of the year, once other cost pressures hit, such as base rate rises, higher inflation and higher taxes.
So, if you’re looking to sell, now’s the time to do it.
And with that deadline in mind, read on for some useful hints and information on how to sell your Leicester property quickly.
In a hurry? Here’s a quick summary
Favourable market conditions for selling a home look set to continue into 2022 with further price rises and high demand from buyers. However, this is expected to slow towards the second half of the year, so anyone thinking of selling is advised to get the ball rolling as soon as possible.
While there’ll always be factors out of your control, there are things you can do as a buyer to put you in the best possible position to sell your house in Leicester quickly.
Readings can help with all of them, so if you’re thinking of selling a property, give us a call. Our free instant online valuation calculator is a great place to determine what your property may be worth.
What do I need to know before selling my property?
If you have decided that 2022 is indeed going to be the start of a new chapter and you want to take advantage of the current market conditions by selling your property, there are a few things worth considering first.
If you’re forearmed with the relevant information and do as much of the preparation, research and decision-making beforehand, then you’ll be in the perfect position to get going with the process of selling a property.
It’s a busy period for estate agents, which in turn means it’s a good time to get your house on the market. You’ll want your home to be advertised at the time when more people are browsing.
Getting the price right is crucial; despite the high demand, buyers will still have their limits and you don’t want to either be stuck with a property that’s on the market for a long time, or having to repeatedly reduce the asking price. Both scenarios could impact your first impression with buyers. An accurate valuation is therefore vital.
Another key area to be prepared in is your finances. Do your research on mortgage rates and criteria now, so you have a good idea of how much you can borrow if you need to, any exit or porting fees, stamp duty fees and all the other associated costs. If you know all of this in advance, you’ll have a more realistic expectation of what sort of offer you can accept for your property and, if you’re moving to a new one, how much you can afford.
What can I do to help speed up the selling process?
While buyer demand is high at the moment, this is expected to slow down in the second half of the year, and there are also indications that more homes will be coming to the market at the start of this year. To capitalise as much as possible, you’ll want to be in the best possible position for a quick sale.
This means getting ahead of the competition and doing what you can to speed up the selling process. Read on for our top tips.
Get your home ready for selling; first impressions count!
Step one is to make sure your home looks its absolute best for valuation, photographs and viewings. Doing this will increase your chances of not only getting a sale, but also of achieving the asking price or beyond. With lots of buyers on the market, if your property looks the best in the area or price bracket then you’re more likely to have competing bids, which is a great position to be in.
Unless your property is an obvious and accordingly-priced renovation project, anything half-finished or run-down is only likely to put people off. That’s not to say you won’t sell, but it might take longer and at a lower price.
Get good photos
If you’ve gone to all the trouble of giving your property a cosmetic makeover, then it would be a shame for the photos to let it down. It’ll be an uphill battle to get viewings if people don’t like what they see from the photos. You might suffer equally from having only a few images, next to a listing that has plenty, so get as many different photos from as many different angles as you can. We can help narrow down the final few images that would be most suitable for the listing.
Whether the photographs are taken by yourself, an estate agent or a professional property photographer, think about lighting and angles – for example, photos of the outside on a sunny day will look much better than a grey, rainy day.
Small touches like plumped cushions, vases of flowers and fruit bowls can all have a big impact on making a house feel like a home for potential owners.
Valuation and asking price
A property valuation helps you to work out a reasonable asking price for your property, based on the current value of your home. As touched upon earlier, it pays to get the right valuation and the right asking price from the outset. This includes researching similar property listings to make sure yours isn’t unrealistic, and checking how much similar properties have sold for in your local area recently. You can find out how Readings can help you with this later in the article.
Getting the right estate agent
A good estate agent is the absolute key to selling your property quickly. An agent which is fully accredited, experienced and has in-depth knowledge of the local area and market, can save no end of time.
In addition to ticking all of those boxes, Readings can offer you a full package of services, including valuations, surveys and auctions. Dealing with one agent for everything can really help to speed up the process.
How can Readings help me sell my property?
We’ve been selling property for years and as the market has evolved, so have we by investing in state-of-the-art software and marketing material to help us sell your property faster.
We offer both a free instant property valuation calculator and free home valuation. The valuation can be impacted by a number of factors, including supply and demand in your area, location and accessibility and the property type and size. Don’t worry though, we’re here to help. As local Leicester property experts, there are not many property types or scenarios we haven’t seen and we’ll use this knowledge to make sure you get the right valuation.
A good place to start is our free property valuation calculator.
How does the property valuation calculator work?
We offer instant online valuations, which is quick and easy. This will enable you to get the process of selling your home going straight away, without having to wait for appointments and reports to be written. All you need to do is:
- Enter your postcode and find your address
- Add in the number of bedrooms in your property
- Add in the property type
- Add in the type of valuation you’re looking for, for example, sales, letting or both
After this, we’ll ask you for your contact details and you’ll have the opportunity to add any additional information you’d like to include about the property. Once this has been completed, submit your details and we’ll give you your instant valuation.
We’ll be your guide every step of the way. Our expert, friendly team members are here to help. We’re fully regulated and accredited too, because we’re committed to providing the highest quality of service at all times. This means adhering to rigid codes of conduct, compliance and regularly updating our knowledge and skills.
To conclude
Conditions for sellers continue to be favourable into 2022, so if you’re looking to take the plunge this year, we’re here to help.
The above outlines how you can take steps to increase your chances of a smooth and quick sale, but of course, it also comes down to finding the right buyers, along with a thorough and reputable estate agent to ensure no corners are cut and all due diligence is followed.
We handle all our sales with professionalism and care, so if you’d like some expert help and advice, get in touch with Readings.
