Fine & Country Monthly - November 2022

UPDATE

PREMIUM HOMES FOR SALE IN THE WESTCOUNTRY

FEATURE ARTICLE

MARKET

Welcome to our second edition of our Fine and Country monthly update.

Since my last market update we have experienced quite a lot of change to say the very least! The political decisions taken at the mini budget has certainly sent initial shockwaves through almost every derivative of the financial ecosystem

Within a week or so however the currency and stock markets stabilised. An aftershock has been the resulting rises in two and five year fixed interest rates which we should remember were predicted by financial analysts long before the announcements in September Whilst the focus from a media perspective has been on the extreme of the circumstances it is important to remember that a significant number of borrowers are still on fixed rate term mortgages of which there will be no immediate rise We are now seeing more stability, calm buyers and sellers are not feeling forced to make rash decisions. It is worth remembering that unlike the credit crunch of 2008 the banks are well resourced and will want to be competitive to loan money and interest rates are not forecast to rise to a disproportionate level as they have in decades gone by. Activity has still been brisk and we are still

seeing more sellers enter the market providing more choice for buyers This is an important catalyst of any “normal market” Whilst selling activity can fluctuate across the seasons the market always continues and with more cream of West Country property available, now is a good time to start your house moving journey with us We are fast preparing for our central London Autumn property exhibition which is being held in our prestigious Park Lane office

In terms of prices, they are stable at present It is fair to suggest that they may well fall a little however, we should remember that in many cases it is the difference between selling and buying that is important. We should also build in the significant increases that we have seen in the past two years due to the insatiable demand and relatively low stock It is likely therefore that even if we saw a 10% fall prices would still be above that of pre pandemic levels!

Fresh buyers are still entering the market and it should be remembered that we still see a large number of genuine “cash” buyers who are not overly worried about mortgage interest rates, in fact 36% own their homes outright according to Government figures they just want to move for a lifestyle change and that is still a key reason for moving in today’s market I look forward to providing you with another update very soon

Andrew Simpson

Fine & Country Director Launceston Office

Launceston@fineandcountry com 01566 771919

pages of inspirational homes

lverton, Somerset

eigh, Devon

pton, Somerset

Holsworthy, Devon

Bude, Cornwall

Barnstaple, Devon

Bude, Cornwall

Ilfracombe, Devon

Applegreen

5 3 EPC: Exempt

Located on the southern fringes of the Exmoor National Park stands this striking and beautifully presented detached Grade II listed country residence offering excellent equestrian facilities. This wonderful rural home, set in grounds of approximately ten acres, boasts a range of versatile stone outbuildings and a potential annexe, all on the doorstep of some of Exmoor’s finest walking and riding settings.

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Marketing your home during the Christmas season

As Christmas fast approaches, you just might be beginning to get into the festive spirit Besides Christmas shopping, for anyone selling their home there are a few other things to think about and organise Christmas, perhaps surprisingly, is a great time to launch your home to the market. The Times reports that sellers who come on to the market in December are 6% more likely to sell their property above the asking price

Many people are together with family and have time to chat about their next life steps, including moving home. Added to which, for anyone not working over Christmas, there may be spare time to browse the property portals and dream of what they would like to do If you are serious about selling in 2023 then capturing the imagination of the potential buyers over the Christmas break is a fantastic opportunity You may find yourself with an exciting new adventure ahead by the spring

1 KEEP THE CHRISTMAS DECORATIONS MINIMAL

If you have interested potential buyers wanting to view your home while you have the decorations up they won’t want to see bright green and red garlands swamping the room. Think about keeping decorations to a minimum to avoid overshadowing the features and potential of your house There are some stylish decorations available to buy at many high street stores which will fit in well with your current décor. Neutral candles and foliage wreaths work really well.

3 CHOOSE WARM FAIRY LIGHTS

Warm coloured fairy lights will create a cosy atmosphere and set the tone Bright white lights on the other hand can be quite harsh to the eye As you are selling your home in winter it is likely to be dark outside so use lots of lamps to create pockets of light around the house and to highlight certain features. We would suggest avoiding filling your garden with brightly lit snowman or reindeer decorations

2 THINK ABOUT YOUR TREE CHOICE

Real trees are a great option if you are wanting a Christmas tree Their natural scent is fresh and clean, however, you will need to keep on top of the loose pine needles which can look messy when they begin to fall. When decorating the tree, don’t overuse bright coloured decorations, stick to a theme and keep it neutral Less is more when it comes to tree decorating! Wrapping up gifts in a similar colour of paper helps to tie in the whole look.

4 TIDY AWAY ANYTHING NOT NEEDED

During the Christmas period viewers will expect to an extent to see Christmas clutter but where possible keep unnecessary items out of sight Keep on top of the tidying and the washing up pile. You will likely have more hands available to help so give family members tasks to help you. Even getting your children to make their bed in the morning is a big help if you get a viewing call

We know from previous years’ statistics that Rightmove experiences a high demand during the Christmas period Make sure your property is prepared and market ready Once Christmas Day is over and the leftovers are eaten, people are looking ahead into the new year and may be serious about buying Speak with your agent to ensure you know when their closed periods will be and how they will deal with enquiries during that time if it is likely to be busy You never know, you may also be looking for something to buy!

CONTACT US

If you would like more information about getting your home on the market for the festive period, please contact your local Fine & Country agent.

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