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“What’s Occuring?” – Chapter One – A Useful Update from Julie Gordon

May 2, 2017

Whether you’re on the market, thinking of having a valuation or simply interested in what the housing market is currently getting up to, it’s nice to know what’s going on. It can be daunting dealing with agents, surveyors, financial advisors, lions, tigers and bears (Oh my!) to name a few. That’s why I thought it might be nice to take some time, sit down with a nice brew and try to put together something insightful, helpful and hopefully slightly reassuring.

Having just stepped into the world of Estate Agency in February, I don’t yet have the invaluable years of experience that the rest of the team do. I do however, have the curiosity and persistence that enabled me to catch the infamously busy Julie Gordon (founder of Gordon & Rumsby Estate Agents, of course!) sit her down for exactly 12 minutes and ask her the following questions.

Julie – firstly thanks for taking a moment to chat to me and share your property wisdom! Shall we walk and talk or are you alright to have a quick sit down?

Let’s walk and talk! No I’m happy to sit down, go for it.

Brilliant. I’d like to start off with a Brexit question. I know everyone is probably already sick of talking about it but how do you think it will affect the housing market, if at all? You can give us the short answer if you like!

I think it has affected the housing market since last summer and the shock of the decision that no one expected right up to the beginning of this year. During which time sellers were definitely holding back. However since February, the floodgates have opened and we have seen an enormous increase in property coming on. There has been strong buyer activity and which means that most properties are selling well. The market is likely to be affected in two years time when Brexit really kicks in but we’ll cross that bridge when we come to it!

So that’s at least a little bit positive! Is now a good time to put your property on the market then?

Now is definitely a good time with high levels of activity. As property stock is moving quickly we still need to replace what we’re selling.

I’ve noticed we’re seeing more buyers than sellers at the moment, how long do you think that will continue and what are the pros and cons?

This has seemed to have reached more of a balance now, however the area that has lost buyers is the lower end due to the additional 3% stamp duty levy on second homes. Whilst this is good news for younger buyers we sadly don’t seem to have enough of them in this area which has resulted in properties between £150 -£230k being slower to sell. It’s a sad fact that we rely on the second home owners to a certain extent but they also provide much needed rental stock too, so it’s bittersweet.

Another political one (sorry)! What are your thoughts on the surprise general election coming up in June? Do we need to batten down the hatches? Stock up the pantry? Run away to a remote island? Or just put the kettle on and wait for all this to blow over? 

Yes this was certainly unexpected and could cause things to slow down a little, but the good thing is it’ll all be over in a matter of weeks so there’s not too much time to get hung up on it, I wish all elections could be this short lived! Wouldn’t say no to a cuppa though!

Me neither! So what advice would you give to anyone thinking of buying/selling at the moment?

Go for it! Try and prepare your property for sale as best you can by making sure it’s in good repair, clean and tidy – buyers will generally be more attracted to well presented properties (this is why show homes work) and we are more than happy to provide help and advice on this. For buyers, I’d say firstly try not to rule out too much on the internet without at least doing a drive by first (the old fashioned way is reliable as ever!) people often overlook properties that could be ideal for them. The other key thing is just try to stay open minded to compromise and avoid making snap decisions.

And finally, for a bit of silliness, if you could be any mythical creature what would you be and why?

Ooh tough one. First thing that popped into my head was a dragon…is that bad?! I suppose I am Welsh and I have always wanted to fly so that does make sense…yes let’s go with dragon. A purple and green dragon.

Alright, good choice! Let’s keep it short and sweet for now then, thanks JG – until next time!

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