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High Buyer Demand Propels Newly Marketed Property to Record Highs

Story posted: 04.05.17

At Ashtons, we have seen particularly strong buyer demand in the local area during the spring market. A recent property which sold through our Harpenden office is a prime example of such activity. 

In July and August 2013, 10 Meadow Walk spent six weeks on the market at a Guide Price of £625,000, during this timeframe only 6 viewings took place, consequently no offers were made and the owners decided to rent the property out instead. 

Nearly four years on, in April 2017 the owners decided to try again. The property went back on the market with Ashtons at a Guide Price of £700,000. On this occasion, the outcome wasverydifferent with 72 viewings in just 10 days of marketing, 14 ‘best and final offers’ returned, the majority significantly over the Guide Price and the end result - a sale has now been agreed. 

Considering the house had no alteration other than refreshed paintwork during the period it was rented, the surge in buyer demand is going from strength to strength! 

Joe Wilkes, Director at Ashtons added, “The demand for homes in the middle sectors of the Harpenden market, which offer a proximity to the Secondary Schools and the station has never been so strong.” 

The local market certainly resonates with national trends. Miles Shipside, Rightmove Director & Housing Market Analyst stated, “High buyer demand in most parts of the country has helped propel the rise of newly marketed property to record highs. There are signs of a strong spring market with the number of sales agreed achieved at this time of year being the highest since 2007… in locations where choice of suitable property is limited hesitation could mean losing out to others who still decide to act.” 

In addition, the first-time buyer sector is driving growth with a rise up to 6.5% annually, thus setting a new record of £194,881. 

Overall, the latest Rightmove House Price Index (HPI) indicates, “the national average price of property coming into market has hit a record high and now stands at £313,655, exceeding the previous high of £310,471 set in June 2016….and strong buyer activity with the number of sales agreed the highest at this time of year since 2007, before the credit crunch.”


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May
23
2017

Yvonne Kerslake-Brameld

Ashtons staff were extremely friendly, knowledgeable and competent. The sale price was ideal. I highly recommend them as a superb team.

May
21
2017

Cynthia Brooks

We mostly dealt with John and Graham at Ashtons and both were extremely courteous and helpful.

May
19
2017

Stuart Yerby

Neil Facer was nothing short of a superhero, from listings to viewings to negotiations to conveyancing. The team were supremely professional.

May
17
2017

Susan Aujla

Incredibly stressful time. Forever grateful to JP at Ashtons for finding us the house & doing everything he could to secure it. Exceptional!

May
15
2017

Anne Udell

I was very impressed with the way Joe Wilkes handled a somewhat difficult time.

May
13
2017

Simon Stanley

Ashtons let the property for me for several years before selling it and achieving and excellent price. Thoroughly professional throughout.

May
11
2017

Peter Fice

Ashtons were able to arrange an immediate viewing on the day we saw the property on Rightmove. Excellent courteous and fast service.

May
09
2017

Andy Mann

Jon-Paul Brampton had an in-depth knowledge of local pricing and economy, impressing me enormously and led to a quick sale. Highly recommended.

May
07
2017

Karen Stammers

You have a great team who made the process - from the first enquiry to completion - seamless and stress-free. Very professional.

May
05
2017

Anonymous

Steve and Graham were excellent in helping us to sell our house and Verity was integral in negotiating a good price for the house we...

May
03
2017

Barbara

Excellent service from the agents throughout the process (and after completion!). Joanne Sargeant is a real superstar!!!!

May
01
2017

Nicola Magdalinis

Our move from London to St Albans was smooth and stress free. We were kept informed at every step of the process and without prompting....


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