Our House Price Index was released to the media this morning and gives a national picture of house prices and activity over the last month.
Here are some key facts to share with your team and customers.
Strong November sales outweigh uncertainty as Rightmove forecasts 2% rise in 2017
• Price of property coming to market falls by 2.1% (-£6,51 1), exactly in line with seasonal average of last six years
• Rightmove forecasts 2% house price increase in 2017, the seventh consecutive year of rising prices:
• Buoyant November indicates upwards price pressure going into next year, though tempered by ongoing uncertainty and increasingly stretched buyer affordability
• Demand up in November 2016 compared to 2015: website visits up by 9%; sales agreed up 5.2% nationally and up in all regions except London
• Supply still tight with new listing numbers up by just 2%, and available stock for sale per agent down 5%
Read the full House Price Index here
We do share regional data in the House Price Index but you'll be best placed to comment on what you are seeing in your specific area.
Remember you can use Rightmove Intel (which is included as part of your Rightmove standard membership) to get useful insight about what's happening in your local market.
Go to Rightmove Intel now
We hope you’ll find this information useful when speaking to your customers. The next House Price Index will be released on 16th January, so please keep an eye out for it.
Miles Shipside M.R.I.C.S.
Anthony Wood from Samuel Wood & Co looks at some fast changing attitudes in the property market.
The presidential election result in America reminded us – if we needed any reminding - that we live in a time of massive immediate and fundamental change. A point not lost on us here in the UK after Brexit. In the property industry even Budget tax changes can alter buying and selling habits overnight. But there is a more gradual, yet no less significant change going on in our country which is having a significant effect on our attitude to property.
The baby boomers are finally making way for the millenials - Generation X to Generation Y. The digital generation is becoming the increasingly dominant force in the property market. And that will only gather pace in the years ahead. But this new group does not think or act like the old one.
The baby boomers could be relied upon incrementally to develop their parents’ ideas. This new generation have their own thoughts entirely. For income and social reasons they are generally older when they buy property for the first time. They are far happier to rent than their parents were. They are not so keen to take on older, larger properties and are more reluctant than the last generation to repair, renovate and re-model. DIY is not regarded as a recreation and leisure time pursuit for the younger generation. Millenials often prefer more compact homes built in thermally efficient and ecologically agreeable materials. They want to control the heat, security, lighting and garden irrigation from a beach in Thailand. Sometimes they prefer a holiday in Thailand to buying a property in the first place - a point of view their parents would never understand.
Millenials often tend to favour new homes over old ones – if they have the choice. Those baby boomers who are in the market now are planning retirement, and often prefer urban locations so they can be close to amenities such as shops, entertainment, transport and health services. Older rural properties remain in high demand but some changes may be required to maximise their value with younger or retirement buyers in mind. Your estate agent will understand this and be able to recommend the right course of action - best listen to him or her.
Just as we witness year after year the dwindling numbers of world war veterans filing past the Cenotaph on Armistice Sunday, so we in the property industry witness a changing of the guard in the business of buying and selling homes. There has probably not been such a sweeping change in housing attitudes since the 1960s. The government should take note. Developers should take note. Estate agents should take note - and in particular house sellers should take note. For established norms in buyer behaviour are being swept away. The millenials have their own rules and everyone will have to get used to it, just as the political elite have to get used to it. Ask Hillary!
The arrival of Santa last week has finally put the Shrewsbury team in the Christmas Spirit however there are some naughty Santa elves causing michief in the office and are hiding all the pens
Shrewsbury Team had a visit from a very important person last week and they didn't even notice !!! he must be starting his rounds early this year, lets hope he left lots of presents for secret santa !!
The Samuel Wood team would like to welcome our newest member of the team Sue Dean who will be based in our Shrewsbury Office. With over 14 years expereince she will be an asset to the company and has already fitted in well joining us on an evening out on the town. She is married with 3 children and enjoys cooking, gardening and films, we are hopeful she brings us in samples of her love of cooking.
Another satifised customer well done Ludlow Team
"Just wanted to say a massive thank you to you and your staff for the excellent service you have provided in the letting and sale of ********* "
Part Time Sales Negotiator/Office Administrator
Established Town Centre Estate Agents Samuel Wood & Company are now seeking to recruit for our busy town centre office.
We require a motivated and enthusiastic individual to supplement our busy and dynamic sales team based at our successful Ludlow Office.
Previous experience within the industry is preferred but not essential
Please send covering letter and CV by email to firstname.lastname@example.org
FOR SALE £340,000
Standing in generous gardens and grounds of approximately 0.75 acre is this pretty Detached Cottage. With gas central heating to Living Room, Kitchen/Breakfast Room, Conservatory,
Cloakroom/Utility, 3 Bedrooms and Bathroom. 2 Garages. EPC Rating E.NO Upward Chain. Call our friendlyy Church Stetton team to arrange a viewing.
Starting to look pretty festive in the Church Stretton Office, all ready for the Church Stretton town lights to be turned on this Saturday.