PUBLISHED: 12:33 09 September 2011 | UPDATED: 21:37 20 February 2013
We take a look at the news in the Somerset property market this September
Property Problem Solver
Given the shortage of property available on the market, is it wise to get involved in a bidding situation?
Buyers of country houses are in a difficult position. Prices are largely static but theres a terrible shortage. The consequence is that for some of the most desirable properties, competition among purchasers is pushing the price above its real value.
Its easy to fall in love with a property and find yourself getting into a bidding situation with another purchaser, but in the current climate I would advise against it. Theres a strong likelihood that more property will start to come onto the market and supply will ease. Be prepared to walk away from a property if you think the bidding is getting out of hand. Make it clear that youre a good purchaser whether thats because you have cash, finances lined up, or anything that makes you attractive. Keep looking at other houses, and tell the agent thats what youre doing. The other interested parties may not be as attractive as the agent has implied or as attractive as you, and you may find that you are pursued by them the boot firmly on the other foot by now.
Amanda Ake, Stacks Property Search & Acquisition. 07974 809624, www.stacks.ake.co.uk
The right garden sells a house, but the wrong one can put people off. Gardens that require a great deal of maintenance, for example, will appeal only to the most green-fingered of house-hunters. Napoleon Wilcox, Webbers Fine & Country
Residential Lettings Strong in Somerset
While there continues to be general weakness in the housing market, quite the opposite applies to the residential lettings market, where there is clear evidence that the demand for rental property is outstripping the supply. There is undoubtedly a need for additional property to meet this demand and we anticipate an increase of private landlords entering the market, particularly when many investors have grown both impatient and, to an extent, fearful of investing in stocks and shares. It is important that any person considering letting their property or purchasing a buy-to-let property obtains the best possible information available in order to ensure the maximum return on their investment.
The choice of property is key to this exercise and we will be pleased to advise with regard to matters such as location, amenities as well as giving information on the various types of management level which we can provide. We know from our many years of experience that landlords require consistency and reliability from their Lettings Agent and to have confidence that their tenants have been properly referenced and the property is being managed correctly. If you are thinking of making an appropriate investment then do not hesitate to contact any of our offices for advice or an appraisal free of charge and without obligation.
Sonia Matthews, Senior Lettings Manager, Greenslade Taylor Hunt, 01823 337722 www.gth.net