If auctions are a good barometer of the property market then our results on the 4th would suggest that it is in fair health! And the low interest rates are still drawing in the investor buyer who is attracted by the good return; our transaction records indicate that rental values are still on the rise.
The summer holiday period is a time when the market usually takes a bit of a break too. We are looking forward to a busy autumn.
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General | Special Offers | Local Interest
Our July lettings results echoed those of the same period in 2015; that is one of the best months in a forever busy department. To a degree, the versatility of the lettings market (for example, it has enabled home owners to move without selling by simply renting theirs out and then renting another one!) has fuelled demand, pushing rents up at the same time. Rightmove have reported a marked increase in asking rents across the country. We have seen this locally too: three bedroom semi-detached houses in Devizes which let for £650pcm in December 2012 have recently achieved £900pcm!
This has encouraged new and existing ‘buy to let’ investors who see property as a very safe bet with a return that, seemingly, may only be dreamt of in a bank. ‘We held a seminar in April this year with the aim of helping new and existing landlords to get the best out of their investments; in some instances yields of over 5% are being achieved locally.’ says Karen Elson who heads up our lettings department. For more information, you can contact Karen directly on 01380 722995 or karen.elson@strakers.co.uk .
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Our mid-summer sale at the Corn Exchange in Devizes suggested ‘business as usual’, despite what seemed like a nervous start. Star lots included a parcel of former allotment land in Market Lavington which more than doubled its guide price; and the sale of a family house on the outskirts of Norton St Philip, which followed some tense bidding, was quite a thriller. Our auctioneer, Charlie Doel reports that the demand for land has been particularly strong and the bidding for a house with a protected tenant, which included four hopeful buyers on the telephone, was a welcome surprise. Our next sale is on Thursday the 15th September at the Steam Museum in Swindon when the lots on offer will include a number of building plots. Charlie and his team are available on 01249 765200 or auctions@strakers.co.uk .
You can now see how it all works by viewing our latest video which focuses on ‘Land and Property Auctions’; follow the link below
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General | Special Offers | Local Interest
We are delighted to welcome Tori Lancaster-Gaye who has just joined us in our Marlborough office.
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