East Anglia Masterclasses

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Lincolnshire

East Anglia

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East Anglia

  • Cambridge - Monday 6th November 2017 08:30 - 11:30
    Spaces available
    More Info Book Now
Ian Harris

July 2017

Dry, warm and with potential for the occasional downpour! Yes, the phrase well describes the weather in our region but, speaking to agents from across the region, I detect that for many estate agents it is, to some degree, a metaphor for the market.

Dry
Agents report stock being their top challenge, some even reporting “drought” conditions. Instructions have been hard to come by and agents are diverting much of their attention to finding new business. As competition intensifies, so does downward pressure on fees  Its hoped that as we emerge from the distraction and political uncertainty of an election, sellers will press on with sales and the middle of the year will produce a flow in new instructions to satisfy the undoubted demand there is in the market place. 

Warm
With plenty of buyers and low availability there is plenty of competition between buyers, especially for properties in sought-after price ranges and locations.  Our major towns and cities are often the focus for this activity but sought-after villages and attractive rural areas also benefit. In these areas agents are often dealing with multiple offers and achieving sales quickly and good prices.

Occasional downpours
Micro markets seem to be the thing of the moment, where there are clusters of intense activity, sometimes because of one successful sale triggering others in a locality and others because of an active local economy combined high-turnover of population – either way these pockets of intense market activity are welcome.

Agents learning lessons from the wine industry?
Made in a Norfolk village, Winibirri Bacchus was recently voted best white wine in the world. The weather conditions I mentioned at the top of the article may have helped but it’s a great example of things being done really well; with some love, care, attention and a high degree of skill and expertise. 

This week I was told that market disruptors have a lower market share in East Anglia than other parts of the country. Big gaps in mobile data connectivity and slow copper broadband connectivity I’m sure have a part to play in this although we don’t want to make a big noise about that. I would like to think that clients in our region appreciate the love, care, attention, skill and expertise of their local NAEA Propertymark agent.

Ian Harris MNAEA MARLA
NAEA Propertymark Regional Executive
ian@naea-execs.co.uk