Do You Know The Value Of Your Home?

18th May 2021 posted in SELLERS LANDLORDS

At Country Properties, we aim to provide people with as much support as we can, no matter where they are in their property market journey.

We can arrange a property valuation on your behalf

If you own your home, it is likely you will be interested in the value of your property, even if you aren’t planning on selling your home soon. If you would like to arrange a property valuation, for your own peace of mind or as part of your next step, we can help.

You might be surprised by what you learn.

Zoopla have carried out a Hidden Equity Survey. The study spoke to 2,000 property owners who have received a valuation by an agent in the past three years. Some of the key findings are:

· 45% of respondents found their home was worth more than they thought

· The home was worth, on average, £46,305 more than expected

·  25% of respondents found their home was worth less than they believed

·  These respondents found their home was worth, on average, £44,313 less than they expected

Zoopla released a statement about the results, saying; “the role the agent community has to play in educating consumers, with just three in 10 homeowners having an accurate idea of the estimated value of their home.”

If you would like to enjoy a more accurate idea of the estimated value of your home, we are more than happy to assist you. Please contact us today, and we will be happy to help.

Andy Marshall, Zoopla’s Chief Commercial Officer said; “The pandemic and subsequent lockdowns have led to a once-in-a-lifetime reassessment from homeowners about how and where they want to live. This, coupled with the stamp duty holiday and the search for space, has led to a buoyant market; however, it's clear this soaring buyer demand is not currently being matched by the supply of homes being listed for sale.”

Andy continued by saying; “This is why Zoopla has launched My Home, to encourage homeowners to check the estimated value for their property and consider selling their home to unlock hidden equity, which will, in turn, stimulate the market. For those keen to progress with a sale, they can contact an estate agent directly using My Home to make contact with an agent for an expert market valuation and personalised guidance on how to best navigate this busy housing market.”

Gráinne Gilmore, head of research at Zoopla, explained: “The effects of the pandemic over the last 12 months have been felt in the housing market, with many households reassessing how and where they want to live. There is soaring buyer demand but this is not currently being matched by homes being listed for sale. Homeowners considering a move could be in pole position in their local market if they offer their property for sale, and could be set to unlock hidden equity.”

As of May 2021, Rightmove says the following about the Letchworth Garden City housing market;

Properties in Letchworth Garden City had an overall average price of £417,502 over the last year.

The majority of sales in Letchworth Garden City during the last year were terraced properties, selling for an average price of £330,533. Semi-detached properties sold for an average of £443,778, with detached properties fetching £685,059.

Overall, sold prices in Letchworth Garden City over the last year were 16% up on the previous year and 8% up on the 2017 peak of £386,483.”

Currently, in line with Government guidelines, our Letchworth Garden City branch is open and our and lettings personnel are here to assist you. To clients old and new, if you have any queries or need advice on property sales and lettings then please call 01462 481100 or email ian.ellmers@country-properties.co.uk.