Lack of supply will lead to price increases

March 6th, 2014

The headlines earlier this week were how 41% of Northern Irelands homeowners are in negative equity.  In comparison to the north of England at 16%, this is a huge figure and must have consequences for our local market.  Estate Agents and househunters are finding  precious few houses coming on to the market and most Estate Agents’ stock levels are very low.  This is an obvious consequence of the negative equity issue but due to the laws of supply and demand, prices are likely to be pushed up as more and more confidence returns to the market.

New Year increase in potential buyers

January 24th, 2014

January has seen the predicted increase in potential buyers but we are still experiencing a shortage of properties coming on to the market.  This is having a very positive impact on the saleability of all houses and their prices.  Our advice,  if you thinking of selling in the next few months, is to consider putting your house on the market now and take advantasge of the lack of supply/ higher demand situation.

CHRISTMAS HOLIDAYS

December 23rd, 2013

We will be closed on Christmas Eve, re-opening on 2nd January 2014.  Our emergency line for tenants is operational throughout the holidays, just telephone the normal number.  A very Merry Christmas and a Happy New Year to all.

Pooler support Loopand Residents

November 18th, 2013

The residents of the Loopland area of Cregagh/Castlereagh have got together to form a residents group. We thought it such a good idea that we are supporting the group by way of sponsorship.  The group will be organising a neighbourhood watch scheme, social events and looking after its senior citizens.  I am confident the venture will be successful due to the enthusiasm and drive of the organisers but good luck to all nonetheless!

Please don’t let owners describe their own houses!

August 17th, 2013

If you tend to squirm when you read some of the fanciful Estate Agents descriptions of houses they are selling then you will wonder who thought it was a good idea to encourage the owners themselves to describe their own property.

What about this one, I read recently ; –

“Following an afternoon thunderstorm and a warm sunny evening, the air tingles with ozone as we enjoy drinks in the Summer House followed by starters on the main deck and then main course in the dining room. The view changes again as the sun sets deep red over the North Shore and the lights begin to twinkle. Our guests are enchanted as we enjoy another magical evening which reminds us why we chose this location to build our dream home here.”

Aaaaahhh!!

Somebody doesn’t like Estate Agents!

August 3rd, 2013

We regularly send leaflets out door to door in the locality of houses we have recently sold as a marketing exercise.  Whilst we like a good response, we have never had a reaction quite like this.  We received in the post one of our leaflets with very careful handwriting saying the following.  ‘‘Typical bull**** from an Estate Agent.  You are just another grammar school boy whose grades were not good enough to become an accountant.  If you want to sell your house then put it in an auction whern the hammer falls the deal is done no messing about with ****holes like you.’   Ouch!!

Keep calm and carry on!

June 6th, 2013

Over the past few months I have been hearing more and more positive comments emanating from various commentators regarding the state of the local housing market.  This is all great news but I am increasingly concerned as I hear Estate Agents starting to enthuse just as they were in the ‘good old days’ of 05/06 and people in the street telling me’ it’s great that house prices are rising again’!

There is no doubt that sales numbers are increasing and in small pockets of East and South Belfast there may be evidence of some slight increase in values but in general there is still a lot of healing to be done.

There is really no need to fuel the media fire, lets just be thankful we seem to be at the end of one cycle and possibly the start of a new one and look forward cautiously to the coming months.

From our point of view it’s keep calm and carry on.

Christopher Pooler June 2013

 

Semis are the bestsellers

May 3rd, 2013

The most popular houses by far in the current market are three and four bedroom semi detached homes.  The poor terrace house has taken a battering in terms of popularity in the local area for first time buyers.  The investment market for terrace houses is relatively strong but as you would expect investors are looking for decent returns on their investments.  Typically a potential landlord will pay in the region of £50 – £60,000 for a good terrace house.

There are buyers for the better and more expensive terrace houses but many of the potential first time buyers in today’s market are financially able to skip out the terrace market altogether and go straight for the three bedroom semi – prices ranging from £100,000 upwards.  These buyers are obviously well financed, may well have the backing of family members and are able to enter the market further up the ladder.

There are still hundreds of potential first time buyers out there armed with ten per cent deposits who are still being rejected by banks due to restrictive lending criteria.  If they were released into the market, it would be a different story but for now, semis are the bestsellers.

 

Christopher Pooler

May 2013

 

 

Why it pays to choose a local agent

March 6th, 2013

Last month I was a little surprised when the owners of a local semi detached property I had just valued, informed me that two other Estate Agents had valued it £20,000 less than I had just estimated.  £20,000 represented more than 10% of a difference and it is a substantial amount for one of us to be wrong.   However, I never doubted that I was right as I know the area very well and also know which recent sales to compare the value to.

We put the property on the market at our suggested price and agreed the sale within two weeks at the figure we had originally estimated.

So, if our clients had not believed us and opted for one of the other Estate Agents who were based on the Lisburn Road, they would now be £20,000 out of pocket.

The reason the other Estate Agents were so far off the mark is because they are not as familiar with the area and therefore based there valuations on the wrong comparisons.

It could have been a costly mistake for the vendors but luckily they put their trust in the local agents and it paid off handsomely.

Christopher Pooler

Positive start to New Year

January 23rd, 2013

January can be a frustrating month but this year despite the poor weather, we really have noticed an upturn in viewers and bids are coming in at a rapid rate.  Prices are obviously not any higher but  we have had eleven viewers for a semi on the Cregagh Road within a week, six viewers for a terrace in Bloomfield and 12 viewers for a terrace off the Woodstock Road.

You may look around the streets of East Belfast and it seems half of the area is up for sale but there is genuinely a real shortage of good family properties and even investment properties coming on to the market.

If you are thinking of selling we can be sure of attracting interest in your property as long as it is placed on the market at a reasonable asking price.

Christopher Pooler