The property market in Teesside 2018: A six-month review
2018 has gotten off to an interesting start in terms of the property market across Teesside. Generally, the area can be fairly shielded from the rest of the UK property market. Just as well since overall Britain started this year with the flattest period of activity in five years.
However just because Teesside isn’t following suit with the rest of the UK doesn’t mean it isn’t creating waves of its own. Since the start of 2018, we have noticed a number of changes in the market which could potentially have a wider impact on house sales during the second half of 2018.
A mixed bag of results
Local research has identified some clear winners and losers in the property price postcode lottery. Whilst 25 areas across the north east have been identified as rising in cost, a whopping 40 postcodes have showing drops in the value of property.
Theoretically this creates a great situation for buyers looking for a property that might otherwise have been out of their price range.
House values on the up are rocketing
Whilst more prices are dropping than rising, those areas where houses have been identified as going up in value are showing serious increases, some by as much as 60% in the past 12 months alone! The changes can be down to a number of factors, including new builds, demand for housing types and, to a lesser extent, employment opportunities in the local area.
Demand remains steady at Adore
At Adore Properties we have found that the level of enquiries has remained consistent across all of the areas we cover but we that doesn’t mean we can take it easy. No matter what the general patterns and trends show, homes will always have the best shot at being sold when they are marketed properly. It’s the little touches that make all the difference.
Great marketing remains a winning strategy
From having your home professionally dressed for the website photos, to being realistic about pricing and maintaining a great and honest relationship with both buyers and sellers alike, it is the job of estate agents to ensure your house is in prime position to attract the attention of potential buyers.
At Adore we have fine-tuned the process so no matter what the next six months, and beyond, have in-store we are here to help.