Traditionally in January Market Appraisals enquiries are high. Christmas is a time when families get together and reassess their lives. Often a decision is made to sell their home for many different reasons. On the back of two lockdowns in 2020, this decision-making process appears to have already happened as families had the opportunity and time to review their situation. Many sellers flooded the market, keen to press ahead with their plans and take advantage of the stamp duty revisions. Fast forward to now new instructions to the market are unseasonably low.
Is now a good time to sell your home? Understandably, COVID is of great concern, which is why potential sellers are holding back. We completely understand why sellers are cautious, and we would like to reassure all sellers that we will deal with their concerns sympathetically. We will conduct all appointments safely following our own and the Government's guidelines to ensure that our staff and clients can work within a safe environment. For more information about our policies, please click on this link https://bit.ly/3oQibsb. Setting aside COVID property prices are firm. According to Rightmove, last month West Midlands property prices increased by 0.6% (one of only two regions within the United Kingdom that did) with an annual increase of 6.1%. Buyer activity remains strong and so far, this year, we have already registered 596 potential buyers.
Our new 360 virtual viewing tool goes a long way in helping reduce the number of people who have to visit a property. The software allows a would-be buyer to fully submerse themselves within a property in a way that a set of photographs cannot come close to achieving. This will enable us to reduce the number of people entering our client's homes, click on this link to give it a go for yourself https://bit.ly/39yKNzF. Before we book a physical viewing, we will ensure that the viewer is committed and has a mortgage in principle in place. Our aim with a property that has the full 360 virtual tour is to agree a sale by only booking one physical viewing so we can reduce the risk in these uncertain times. So, to answer the original question. Yes, it is a very good time to sell, but we must all follow the Government guidelines to stay safe.
We urgently need more home to sell in all price sectors. If you want to sell, please call us on 0121 296 1400 to discuss your plans, and we would be delighted to help you.