Murray Houston reports on the market during the last quarter.
Click on a branch link below to access the quarterly market review for your area.
The residential property market in Renfrewshire has enjoyed a stable and successful period during 2017. Corum Renfrewshire have successfully sold nearly £40 million worth of property during the year, buoyed by a strong finish in the 4th Quarter. Committed buyers continued to view properties right up until the Christmas holiday period resulting in higher numbers of sales with many at competitive sale prices. The lack of stock in the market place is driving this increase in activity. The average selling time of a well presented mid-range property remains less than 4 weeks and average sale prices are at full Home Report value or higher.
The towns and villages of West Renfrewshire continue to remain highly popular due to their good transport links and established well-regarded schooling. Family homes from 3 bedroom semi-detached up to mid-market 4 and 5 bedroom villas remain especially popular. There are obviously variations in sale price
over this large geographic area and buyers are greatly influenced by the quality of presentation and accurate pricing; a well-presented and accurately priced property will attract significantly higher levels of interest.
The excellent placing of Gryffe High School in secondary school rankings continues to ensure strong demand for family homes within the Houston and Bridge of Weir areas, with a high proportion of closing dates and premium prices being achieved. The original village of Bishopton remains popular and select areas of Erskine have experienced strong sales prices, exaggerated by the lack of stock. Properties surrounding and within Lochwinnoch have been sought after throughout 2017 and the village of Howwood is popular due to its excellent transport links. Paisley continues to enjoy a stable and resurgent property market for quality and well-presented flats within the town centre and the highly regarded suburbs.
Larger traditional and modern homes continue to be more challenging, although viewing rates are up and there have been more sales over £500,000 than experienced in recent years. Buyers in this sector are extremely demanding and cautious and, correspondingly, properties are to be very accurately priced and displayed to the highest of standards in order to achieve an acceptable offer.
We are confident that current levels of demand will continue in early 2018 and more well-presented family homes in particular are required to satisfy demand. Many buyers have been trying to secure the correct property before marketing their own home and subsequently losing out at closing dates. Many sellers prefer the certainty of a buyer in a position to proceed and not subject to sale.
Corum are the only local Estate Agent to concentrate only on residential sales and offer bespoke marketing campaigns to help you move during 2018. If you are considering your position and wish to have an accurate and up-to-date assessment of the market conditions for your home and circumstances, please do not hesitate to call and consult with us in full confidence.
Corum Bridge of Weir office
2 Windsor Place
Bridge of Weir, PA11 3AF
Tel: 01505 691 400