A sharp rise in BH8 market properties in 2016
It’s February – the perfect time for recapping on what 2016 gave us and took from us as well as looking forward at what 2017 will have in store.
In July 2016, there were 355 properties on the market which is up from 293 in July 2015 – this is a 21% rise in marketed properties. August 2016 followed suit with an increase of 23%. But what does this mean for pricing?
By the end of August 2016, when compared to August 2015, the average semi-detached and terraced house prices rose by 23% and 17% respectively with flat prices rising by 7%. That’s good year on year growth.
Our experience within Bournemouth BH8 concurs with these statistics – the increase of property on the market could be felt and so could the risen prices. This has meant that property owners have to be realistic about what their property is worth in order to successfully sell it. It’s now more important than ever to ensure accurate and realistic pricing when wanting to sell your property in good time.
While we note that prices have risen, the rate of the raise needs to be taken into consideration when looking to sell. If there is a large number of available properties on the market, then marketing at too high a price can have a detrimental effect to selling. Properties around the area will sell before yours even if they are more approximately priced.
This is why we feel that it’s vital to be realistic when it comes to pricing because the goal is to attract buyers instead of pushing them away. When a property is marketed at an appropriate price using the correct advertising through the right networks, the result will always be a successful sale.
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