Stacks Property Search and Acquisition | Cornwall

Market Comment 27/04/2012

Nicola Oddy — Thu, 26 Apr 2012 08:46:33 +0000

News Flash…The Royal Cornwall Show (7-9 June 2012) is a fantastic opportunity for anyone contemplating a house move to, from, or within Cornwall, to meet a huge variety of relevant service suppliers in a relaxed environment. Everyone from Estate agents to green energy consultants, holiday let companies to architects, lawyers to surveyors will be there. Nicola Oddy, Regional Director of Stacks Property Search Cornwall office will be on our stand in our usual spot at the top of the main ring (Stand No. 349). Come and talk to us!

The market in Cornwall has picked up rapidly since Easter. There is now a better stock of property available and still plenty being prepared to come to the market. The biggest issue for the buyer remains that the most sought after properties are still selling very quickly indeed and are holding their value. Any buyer who views their perfect home and decides to take their time or start with a low offer is likely to be sorely disappointed when someone else snaps it up.
We saw an increase last year in people leaving built up areas elsewhere in the UK, to bring family and small businesses to Cornwall. The popularity of this lifestyle choice looks likely to continue, having a significant impact on the demand for family homes.
There was no sign of unusually high levels of second homes coming to the market early in the Spring indicating that properties with the “wow factor” are likely to continue to hold their value relative to the rest of the market.

2012

Nicola Oddy — Thu, 12 Jan 2012 18:30:50 +0000

As we enter a new year in Cornwall, estate agents are starting to see a gentle increase in the number of new instructions in the pipeline.

Our current issue is lack of supply as very little of note has come to the market since the Autumn. This is not unusual in a seasonally driven community. Past trends indicate that we will not get a clear picture of the 2012 market until February /March. In the meantime the existing market is largely made up of motivated sellers who are keen to secure a sale and move on.

We are currently assisting a number of astute clients who are utilising our knowledge of properties heading for the market in the Spring. We are able to pinpoint houses that are not yet ready for marketing but whose vendors are prepared to consider a pre-market sale.

We saw an increase last year in people leaving built up areas elsewhere in the UK, to bring family and small businesses to Cornwall. The popularity of this lifestyle choice looks likely to continue, having a significant impact on the demand for family homes.

There is no sign of unusually high levels of second homes coming to the market in the Spring indicating that properties with the “wow factor” are likely to continue to hold their value relative to the rest of the market.

Autumn 2011

Nicola Oddy — Fri, 09 Sep 2011 07:02:28 +0000

In uncertain economic times, Cornwall is experiencing a return to the seasonal pattern where activity in the property market decreases at the end of the holiday season.

The Cornish property market is by no means dead. There are new properties coming onto the market and quite a few already being prepared for sale in the spring.

From a buyers perspective these are hard conditions to buy. Knowing what to offer and when to walk away is particularly difficult, as asking prices give very few clues as to expectations of the vendors.

We have seen an increase this year in people leaving built up areas elsewhere in the UK, to bring family and small businesses to Cornwall. The popularity of this lifestyle choice looks likely to continue, having a significant impact on the demand for family homes.

Summer 2011

Nicola Oddy — Tue, 28 Jun 2011 13:01:01 +0000

Throughout the summer we anticipate the addition of a number of new properties to the market on an ongoing basis. The Cornish market is stable and property has a good chance of selling as long as it is realistically priced, however, the timeframes for selling/purchasing are noticeably longer. The Stacks Cornwall office is seeing an increase in buyer’s seeking to improve their quality of life, many of whom are looking for a second income from holiday lets, camping, bed and breakfast or similar tourist driven business opportunities.
From the Buyer’s point of view it is a mixed market. Family homes are in quite strong demand with a steady flow of people moving small businesses into the County. Land suitable for the development of a single property is still highly sought after particularly in special locations, often achieving high prices but occasionally over valued in anticipation of high demand. We are seeing a significant number of price reductions on properties that have been on the market for some time, however, even a relatively small price drop is often enough to trigger a small number of new viewings and a subsequent sale.
In various parts of the County there are several properties at the middle and upper end of the market that are not being marketed publicly. Some are available through Agents but for specific reasons are not being promoted via websites etc. Many are property owners planning to sell in the next twelve to eighteen months who come to Stacks for independent free advice on which Agents to approach when they are ready to sell.
We were delighted to be visited by so many people at The Royal Cornwall Show and to have the opportunity to catch up with so many past clients who have moved into or within the County with our assistance.

Spring 2011

Nicola Oddy — Wed, 25 May 2011 18:18:55 +0000

The beautiful weather and a plethora of bank holidays have affected the seasonal influx of new property to the market. Sellers have only very recently put their properties on the market which is about a month behind the normal pattern.

The Cornish market is stable and property has a good chance of selling as long as it is realistically priced.

From the Buyer’s point of view it is a mixed market. For those special one off properties there remains significant competition making it necessary to be either first to hear about it or in a position to outbid. Family homes are in quite strong demand with a steady flow of people moving small businesses into the County. Land suitable for the development of a single property is still highly sought after particularly in special locations, often achieving high prices but occasionally over valued in anticipation of high demand.

Currently there are significant numbers of properties at the middle and upper end of the market that are not being marketed publicly. Some are available through Agents but for specific reasons are not being promoted via website etc. Many are property owners planning to sell in the next twelve to eighteen months who come to Stacks for independent advice on which Agents to approach when they are ready to sell.

Early 2011

Nicola Oddy — Tue, 07 Dec 2010 10:40:45 +0000

The new year has started slowly but this is the quiet few weeks in Cornwall. A small flurry of new properties have come on the market but many more are being held back until early Spring in order to target both the holiday and residential market.

If you are considering buying a home in Cornwall in 2011 now is the time to be doing the groundwork. This includes checking finances and thinking through the exact details of your requirements. If you are planning to use a buyer’s agent make sure you brief them sooner rather than later so that they can make you aware of properties now that are being prepared for sale in the Spring.

Don’t forget to put the Royal Cornwall Show in your diary, the 9^th, 10^th, 11^th June 2011. A number of Stacks Regional Directors will be on our stand (348) and available to discuss your property requirements both within and outside Cornwall.

Autumn 2010

Nicola Oddy — Tue, 12 Oct 2010 08:30:08 +0000

The holidaymakers have largely returned home which historically has reduced the number of buyers in the Cornish market. The knock on effect is that vendors who are not under pressure to sell will hold off until the spring.

This year there are still buyers out there keen to find the perfect property. The danger is that you assume you have time to mull over your decision when the market is less competitive. Our recent experience is that this is not always wise. Sellers are looking for decisive buyers and many are inclined to take their properties off the market rather than accept a low offer or wait.

Properties that have been holiday let through the summer season are now making their way to the market, as they are now accessible for viewings.

We are seeing increasing numbers of families opting for ‘quality of life’ and looking for family homes in the county.

Summer 2010

Nicola Oddy — Mon, 28 Jun 2010 21:55:34 +0000

A flurry of new properties came on to the market in early Summer but this slowed quickly to return us to a situation where supply outweighs demand for the best properties. A number of properties in the £800k to £1.2m bracket have unexpectedly remained unsold. Buyers seem reluctant to pay the price, preferring to sit back and wait. In Cornwall this is often a bad tactic as the vendor frequently decides not to move and the buyer ends up back where they started….searching.
We were delighted to meet so many people who came to see us at the Royal Cornwall Show. Past clients, potential clients, vendors and potential vendors kept us busy for 3 full days. As a result of the show a representative from the Cornwall Office will be visiting a number of locations over the summer to meet prospective clients.

Spring 2010

Nicola Oddy — Thu, 04 Mar 2010 13:36:25 +0000

ROYAL CORNWALL SHOW JUNE 10 -12 If you are thinking of using a search agent to find a property in Cornwall why not come and talk to us on our stand at the Royal Cornwall Show.

Market comment-March 2010

An unusual amount of new properties came on the market over the winter, normally Cornwall is very quiet from October until February. Since February this year there have been fewer new vendors entering the market than in previous years. There are still plenty of buyers waiting for the right home to surface so much of the good stock is only staying on the market for a matter of days.

It is still vital to make sure that you are well prepared and ready to move forward on a purchase before starting to search. A delay of a few weeks while finance is put in place can be just the window of opportunity a cash purchaser is looking for.

December 2009

Nicola Oddy — Tue, 08 Dec 2009 14:48:11 +0000

The predicted slow down in the market has now taken place and is likely to remain until early January. For those looking to buy in 2010 now is the time for planning your purchase.

The Stacks Director from Cornwall will be travelling around the country meeting and taking a brief from new clients in January and February. If you would like to arrange a meeting please drop us an e-mail or give us a call.