Barry Home Buyers

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Biggest House Price Drop in 6 Years…what does it mean?

person holding new house keys

Over the last 2 months (November and December) the UK has seen the biggest 2 month drop in house prices for 6 years with an average of £10,000 being taken off the asking price for UK homes. Why is this happening and what does it all mean for people trying to sell their house quickly in the Wales and the rest of the UK?

The Numbers

Asking prices dropped across the UK by around 1.5% from November to December this year. This take the average house price down to £297,572, this may seem high but if you take into account the average price in London is still over £600,000 it is easy to see why this average figure is skewed. London prices are still dropping though so no where is safe!

The biggest drop in prices was actually in London but the South East and the North East also saw large drops.

Welsh House Prices

While other parts of the UK are suffering North Wales is actually see a rise in property prices and Wales as whole saw the highest annual growth rate in property price. Welsh property is also selling the fastest so the new is not all bad.

Overheated South

Some commentators are suggesting the property market in the South of the UK simply overheated and needs time to cool off. prices consistently rose in the South for a long period and as other factors affect the market it seems to have been hit badly.

Property For Sale

One factor that may be involved in the lack of stock. There simply isn’t as many properties on the market as there were in previous periods. However, less stock could actually push prices up so there are other factors at play here.

Brexit

There is very little doubt that Brexit and all the Surrounding uncertainty is causing some problems. Regardless of which side people are on they seem to be holding off selling and buying until the UK knows what is actually going to happen. There is an overall slow down and property prices are just part of it. It is understandable that some people want to see how things pan out before buying a new house but for those who need to sell quickly is it a bad situation.

Thankfully the Welsh property market seems to be doing OK but it is by no means immune. If you are trying to sell you house quickly then get in touch with our friendly team and we will get you an offer and can even buy your home within 2 weeks. We can help no matter what your financial situation is.  Don’t risk rices falling in Wales too; if you want to be sure of a sale let us take the stress out of it.

 

 

 

 

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Warnings – When You Sell Your House

house with sold label

Warnings for you

There are a few companies within this industry, like others, who do not always act in the best interests of their customers. We would like to highlight some key points that you should look for.

Cash for your Home Buyers

There are a large number of companies out there that will make an offer or profess to be a cash buyer but in fact are just middle men or agents that will look to sell your details on. It is important to make sure that you are dealing with a genuine cash buyer who is in a position to complete the transaction of your property quickly. Feel free to ask for proof of properties that they have purchased recently from other customers.

No fees or charges

Some companies in our industry aim to make money on fees. If a company is asking for any upfront costs, including survey or valuations fees, then be wary. If they are a genuine cash buyer of property then they will not expect you to pay any money out.
Check for fees ahead of time.

Broken promises

Beware of any company claiming to offer up to 100% of the market value of your property. As with any business they would be looking to be profitable in some way – this simply wouldn\’t be possible if they were paying full market price for properties.

What about Barry Home Buyers – what can we offer you?

We offer you the peace of mind that you are selling to a genuine cash buyer with a proven track record in purchasing properties.

We do not profess to give you full marketing price for your property, neither do we claim to pay a fixed percentage as every property is different, but we are  able to purchase  your property quickly and without all of the hassle you would normally find in selling your home.

Barry Home Buyers provide everything in writing for you and we can clarify anything that we have said in further detail.

You deserve our service

You deserve a fair price and a rapid transaction. Watch out for undue haste in making an offer, or a surprisingly attractive price based on limited knowledge of your situation and property.

Here at Barry  Home Buyers we use RISC\’s evaluation of a property – basically, this is who your bank will most likely use to determine the real value of your house.