September has seen the traditional move to bring property to market following the post holiday quieter period. With the recent base rate cuts mortgages have become more accessible and according to a recent article in The Guardian they could drop even lower to encourage the market.
This will mean that lenders could be offering mortgages as low as 1% interest in order to encourage people to shop with them. The savvy home buyer will benefit from this and one lender is currently offering this deal to buyers that have a good credit rating and put down a 35% deposit. In effect this means payments on a £150,000 mortgage will be around £565 per month which realistically is cheaper than renting.
Propertywire reported that house building is up 5.6% – this is mainly in the private rather than public sector and in and around Peterborough we can certainly see that private building is going strong with development in the Hamptons and smaller developments popping up on available land around the city.
Chris Plummer from Tortoise Property says “If you’re looking to buy a new build property most of the builders will require a reservation fee and will allow a small period of time for you to sell your current property. Here at Tortoise in 2016 we have a great track record of selling 90% of all instructions taken on with an average sale price of 99.45% of the asking price.
However, one of the biggest advantages of working with us is that we work with a 12 week marketing plan and sell the majority of our properties well within this time frame.”
To see more about this data please visit: www.estateagent4me.co.uk
Our recent listing on estateagent4me.co.uk puts us top of the chart with a 90% success rate of selling homes with our average sale time being 21 days achieving 99% of the asking sale price. This data is based on Land Registry sales data and provides an accurate picture of what we can achieve for you.
Peterborough really is a great place to invest in property as prices here are very reasonable compared to nearby Cambridge and being in the commuter belt, the City has good access to London and Cambridge and is a gateway to the north with road and rail links. Communities are being forged in Hampton making it a great place to live with most Hamptonians saying they would like to remain in the area.
Post Brexit the market seems to be continuing to be strong despite much of the predictions of market crashes and price/value drops. You can use our free online valuation tool on our website (www.tortoiseproperty.co.uk) to get an idea of what your home is worth and contact us if you are ready to sell using our 12 Week Marketing Plan. Your home really could be sold before the Christmas period if you take action now.
New Properties coming to market this month:
4 bedroom detached property Willow Holt, Hampton Hargate, Peterborough For Sale £290,000
3 bedroom end terraced property on Lakeview Way, Hampton Hargate, Peterborough For Sale £220,000
3 bedroom end terraced property on Greenham, Bretton, Peterborough for sale £140,000
Contact us on 01733 592020 for further information on any of our properties keep an eye on our website and our facebook page where we regularly update our latest stock.