The Property Market in Bristol
Homeowners in Bristol have seen increases in their property value well above the UK average. In fact in 2016 prices city-wide had jumped by 6.7%, making the average house price in Bristol £242,900. Only London and Cambridge have witnessed higher price increases.
This may be good news for homeowners but not so good for those renting or looking to get on the property ladder as higher property prices means soaring demand and lower supply. The long term effect Brexit will have on Bristol’s housing market is uncertain but for the short to medium term at least property prices look to stay high.
This might lead you to believe that selling a property in Bristol is easy but selling any property in any city is far from a laid back affair and there are some important things to consider, which I want to go through now.
First Impressions Matter
First impressions are hugely important to selling a property. Potential buyers will often make their mind up the second they walk into a home so it really does pay off to make sure your house or flat is as presentable as it possibly can be. This doesn’t just mean tidying inside but making sure the front and back gardens are looking good by mowing the lawn, weeding and sweeping paths and patios.
Whilst you don’t want your home to come across as ‘unhomely’ it’s a good idea to declutter before viewings as your potential buyers will be imagining themselves living there with their own stuff. Spend particular time making sure the kitchen looks incredible as this is the most valuable room in the house and could be a deal-breaker or a deal-maker for potential buyers.
Get more than one Valuation
When it comes to selling your property it makes sense to get more than one valuation on it. Which recommends you get three valuations but however many you do get make sure to ask the estate agent how they came to that figure and don’t agree to use them on the spot.
It’s also a good idea to do some research on property prices in your area. Sites like Right Move and Zoopla allow you to see how much property has sold for. If you can find a similar property in your neighbourhood that has sold recently this should give you a rough idea of what your property might be worth. This should only be taken as a guide though and property value can fluctuate for a variety of reason, including the amount of work that has been done in the property.
Bristol has often been described as being in a property price bubble but it’s possible to get price bubbles within bubbles, with certain areas in the city, such as Clifton and Southville, seeing price rises way above the city average. Bear this in mind when looking at average prices on a citywide level, as your house might be in an area of above average growth.
Most people selling their homes decide to use an estate agent. Bristol has plenty of locally based estate agents, as well as national agencies like Ocean and CJ Hole. Some local estate agents will specialise in selling property in a certain area and will boast an impressive local knowledge. Price is obviously also a huge factor but shouldn’t be the only one, as quality of service is of huge importance. If possible get recommendations from local friends or family who have recently sold a property in Bristol.
Many people choose to bypass estate agents altogether and sell their properties online using a service like PurpleBricks, which allow you to cut out the agency fees altogether. Be warned though that you’ll need to do all of the organising and haggling yourself if you don’t decide to go down the conventional estate agent route.
One such service that is not optional is that of a solicitor or conveyancer to do all the legal work associated with the sale of your property and the purchase of your new home. Bristol boasts a huge number of excellent property solicitors that range significantly in price, so no matter where you live Clifton or Bradley Stoke you’ll find one close to you. Whilst it may be tempting to use the cheapest option it is often a wise choice to go for quality over cost. The role the solicitor plays in the house sale is significant and includes releasing the deeds to your buyer’s solicitors and drawing up the contract of sale.
Removal Companies in Bristol
One area that often gets overlooked until the last minute is the search and selection of removal companies. As we know only too well 🙂
There are all shapes and sizes of removal companies in Bristol, from one man and his man to large national franchises. Which firm you choose is down to the job at hand. For anything but a small one bedroom flat removal we would recommend using the services of a reliable and established removal company.
Again get more than one quote and use our guide to help you choose the company that’s the right fit for you.
Selling a property in Bristol is undoubtedly easier than the challenge of buying one and there’s no doubt that the city is a buyer’s market at the present time. This doesn’t mean selling your home is going to be a straightforward affair with some parts of Bristol being more desirable than others, as in any city. Getting the price you want also means making your house presentable and finding a competent and savvy estate agent so doing your research beforehand is essential.