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A fabulous welcome to 2020 in numbers and activity through our doors…

Our first week back and in the first 5 days, we have listed 14 new instructions, 6 Net Sales, 8 offers, 5 completions, 41 viewings and lastly…. MANY cups of coffee to keep us going!

Looking for an estate agent who has HIT THE GROUND RUNNING FOR 2020?

Lock and Key are THE top selling estate agent in Melksham. Call us on 01225 707342.

 

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As we predicted, the end of December proved to be one of the busiest in estate agents’ living memory. The apparent end of three years of Brexit confusion, prompted by the definitive general election result intensified buyers’ feeding frenzy between Christmas and New Year. We were open for business during that time and our clients are now reaping the rewards, with a number of sales having already been agreed.

Those buyers and potential sellers who understandably adopted a wait-and-see approach during those politically uncertain times are now expressing their pent-up desire to move and the brakes are off.

This does not however mean that prices will suddenly rise. This is because the increase in new buyers entering the market will be more or less matched by the number of new sellers entering the market between now and Easter. So activity and transaction volumes will rise, which is good for those buying and selling as the additional fluidity provides greater choice and faster moves.

The key message to sellers is that as long as you are not unrealistically ambitious on your asking price, then you WILL sell. This is a time of renewed hope and optimism. We are a stable and prosperous country that has definitively moved away from uncertainty – and we are passionate about home ownership!

If you’d like to take advantage of the opportunities of the moment, then please feel free to call us at Lock & Key on 01225 707342 for a free marketing proposal and suggested asking price valuation of you property. No strings attached and you might be pleasantly surprised!

 

Hi All, here I am (Nigel) from Lock & Key who caught up with our recent Christmas Competition Winner: Bev Harris at I D Newman Butchers in Melksham to hand over this wonderful Christmas hamper...there was even a Christmas peck too :-)
Congrats Bev and on behalf of the Lock & Key team, we hope you have a wonderful Christmas 2019. xx

 

 

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UK consumers are set to spend £567 each on Christmas this year, up 1.3% on 2018 according to the latest edition of the Deloitte ‘Christmas Survey’. At £299 over half (53%) of expenditure will be on gifts.

Based on population estimates in the UK, if every adult spent this amount, total expenditure on gifts across the UK this Christmas would top £15 billion. In comparison the total raised in charitable giving across the UK in 2018 was £10.1 billion.

Are you involved in Agents Giving – the official charity for the property industry? Consider the gift of giving this Christmas.

 

FINALLY- Melksham and the property market. We have a result! Whether or not it is your preferred outcome, at least the confusion suffered by the UK, and the property market in particular, is at an end. Like it or not, it looks like Brexit will now formally happen on 31st January 2020 and politicians can then get on with debating other issues, as they should.

As far as property is concerned, D-Day has now arrived. Countless buyers and sellers, who had been sitting on their hands for months, if not years, now have a green light to press ahead with a move. Most people have not been directly affected by any Brexit-related issues, but have nevertheless maintained a “wait and see” attitude. Yet the need to move remains the same - issues such as a job change, a new baby, children moving schools, death, divorce, debt etc are still the key drivers. Frustration had set in because these motivating influences are very real but there was a reluctance to act on them until the uncertainty was over. Now that there is a relatively clear way forward the brakes are off!

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I just wanted to say a big thank you to Nigel and the Team for their support on the sale of our house. This was the 1st house sale we have made and was daunted by the thought of selling and moving on, having made so many happy memories. Nigel and the Team were very positive and supportive, and the added bonus was full asking price of our house.

Thank you again, Stuart and Sarah, Foxglove Close, Melksham

Figures released from various sources suggest that the market – in terms of house prices at least, are holding their own, despite the political uncertainty we are currently witnessing. Year on year figures range from +0.6% (Land Registry) to +1.1% (Halifax). Nothing spectacular as an investment return, but it does demonstrate once again how resilient and reliable property can be – especially when it is regarded as a home rather than a commodity.

In the absence of the speculative buyers of yesteryear, the fact is that today’s buyers still need to buy and they have real reasons for doing so – job, marriage, children, divorce, debt, death etc. Affordability is at a record high and both unemployment and interest rates remain at a record low. In other words, all the metrics are in place for sustained stability in the housing market. If anything were to have dramatically affected the property market – it would have done so by now; and any issues caused by a weaker pound have apparently been offset by an influx of overseas investors looking to pick up a bargain.

This year, September reveals a mixed bag on the property scene. On the one hand, nationally, the number of new property listings in the UK fell by a whopping 13.2 per cent last month*. On the other hand, the latest figures by UK Finance suggest a strong growth in first-time-buyers - up 5.8% year on year.

Certainly the number of new-to-market properties traditionally declines over the summer months, but this usually ramps up again in September. It will be interesting to note if this turns out to be the case this year in view of the political uncertainties of Brexit and a possible election on the cards.

We always get asked two questions by our clients: 1) How is the property market in Melksham doing? and 2) Are properties selling?

We are always honest with our clients and we always have the statistics to prove this.

𝟗 𝐒𝐀𝐋𝐄𝐒 𝐀𝐆𝐑𝐄𝐄𝐃 𝐈𝐍 𝐓𝐇𝐄 𝐅𝐈𝐑𝐒𝐓 𝟏𝟎 𝐃𝐀𝐘𝐒 𝐎𝐅 𝐒𝐄𝐏𝐓𝐄𝐌𝐁𝐄𝐑 𝟐𝟎𝟏𝟗!!

These stats have been taken from Rightmove on 11-09-2019

 

 

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  • £3,485 is the estimated average cost of school uniforms for a child over the course or their school life (Reception to Year 11).
  • The cost is equivalent to 4.31 months of a mortgage repayment or 3.31 months’ of average rent, although there are substantial regional variations.
  • Across the North East and Yorkshire and the Humber, the total cost of kitting out a child is more than eight times an average monthly mortgage repayment, while across London the cost of two months’ rent is on par with school uniform costs.
  • Across the country, 8.4 million children are predicted to return to primary or secondary school this week, a total uniform bill in the region of £2.4 billion.

Hi Folks, my summer observations are this, here we are mid-summer holidays, and the market is generally regarded as subdued. However, due to the continued lack of stock, we are still securing some excellent prices locally. Certainly, volumes are down but ask any buyer or seller and they are less concerned about “the market” and more interested in their own situation. This usually revolves around a single property, so volumes are irrelevant!

We are acutely aware of the personal requirements and emotions behind every sale, so we handle each property as if it were the only one on our books. The summer holidays are almost an annoying inconvenience to buyers who are keen to find a property and get on with their lives.



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