October is no longer a symphony of permanence and change
1 October 2021
Emmerson Dutton, one of the Partners based in Bury St
Edmunds, reflects upon the year to date and wonders what the future holds for
the property market.
The Stamp Duty holiday is now over and it has been an
extraordinary period for the housing market, with exceptional demand met by a
good supply of houses in post-lockdown 2020 and exceptional demand largely
unmet by supply in 2021. This has
resulted in prices rising to a greater extent than anyone forecast.
So what next? Supply
remains low and notwithstanding the end of the Stamp Duty holiday, we are still
registering new buyers hoping to move in Norfolk and Suffolk every day, so
anyone thinking of selling can realistically expect to find a buyer whether
they choose to list on the open market or adopt a more discreet approach.
The discreet approach is not uncommon for the prime country
and coastal market in the winter. Once
the trees are bare and our gardens are pruned and cut back, it is more
difficult to take good photographs and understandably some sellers balk at the
thought of dozens of viewers traipsing wet, muddy shoes through their
houses. So we simply ‘place’ the house
with a select number of motivated applicants on our database, often to great
success. Which reminds me of some sound
advice proffered by David Bedford at the start of my career. “The mark of a
really good agent is one who sells a house that is not on the market to someone
who hasn’t realised that they want to buy it!”
Of course technology has significantly altered the way we
agents operate since I started out but certain fundamental aspects of estate
agency remain vital; a prominent High Street office which allows sellers and
buyers to call in and meet us in person, good quality marketing and a team of
agents who understand the importance of clear communication.
My colleagues and I spend a lot of time talking to people;
this can be over a cup of tea whilst we discuss the best way to market their
house or in our offices with a family moving up from London asking where might
be the best place to buy the freshest local produce. Our professional expertise and our local
knowledge comes through experience and isn’t just something that can be looked
up on Google!
Technology has provided us with a global reach but alongside
that we continue to do what we do best; to engage with people, understand their
needs and aspirations and help them on their way to their next home.
So please make sure you register with us if you are looking
to buy in Suffolk or Norfolk, and of course if you are thinking of selling now
or in the future, discreetly or otherwise, please get in touch with your local
office. We shall be very pleased to hear from you.