October is no longer a symphony of permanence and change
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.
