Market Review Quarter First 2013

May 2013

By Murray Houston, Associate Partner

BRIDGE OF WEIR
The return of a seller’s market?
We have had an outstanding start to 2013 in what is still a challenging marketplace. Our branch has sold 46 properties year to date; with 16 sales in April; and a quarter of which were achieved at competitive closing dates. Initiatives such as a recent Open Viewing promotion stimulated increased activity and resulted in several successful sales. Active buyers will be attracted by a realistic price, with good presentation vital to attract a competitive offer.

Demand remains high for good quality mid market family homes within the most sought after Renfrewshire school catchment areas, and a lack of supply has helped deliver good results. More well presented homes are required to satisfy this demand. The exciting new residential developments in Bishopton have stimulated increased interest in the village with some excellent results. Highly regarded areas in Paisley continue to attract buyers, but sellers must be flexible regarding expectations. Activity levels in Houston and Bridge of Weir are increasing, particularly below the £250,000 stamp duty threshold with several recent property sales.

There has been increased demand for higher value homes in the Gryffe valley, with new stock required to attract this discerning clientele. These buyers are reluctant to pay high prices for the older stock reserving their enthusiasm for the fresh homes entering the marketplace.

Encouraging signs of a market showing tentative signs of increased activity and some returning confidence, aided by historically low mortgage rates and more affordable property prices. Buyers remain cautious, but present your home well with a realistic price and you could be moving on to the new home you desire.

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Murray Houston
Associate Partner