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Supply & Demand means Birmingham Property Values Rose by 6.1% in the Last Year

The most recent set of data from the Land Registry has stated that property values in Birmingham and the surrounding area were 6.12% higher than 12 months ago and 16.72% higher than January 2015.

Despite the uncertainty over Brexit as Birmingham (and most of the UK’s) property values continue their medium and long-term upward trajectory. As economics is about supply and demand, the story behind the Birmingham property market can also be seen from those two sides of the story.

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Sell faster with a stunning property description

So you’ve been preparing to sell your property, possibly for months, or even longer. You’ve cleaned up, decluttered, depersonalised, done some staging, and taken amazing photos. All those things are important when you’re selling. One thing that is neglected to be brought up with estate agents is the listing description. Writing a compelling listing will help ensure that your listing generates interest and produces showings that result in a sale.

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73% of Birmingham City Centre Properties are Leasehold, what does that mean?

A property on Oakham Road, Oldbury that Love Your Postcode is selling

There are 23.36 million properties in England and Wales with 64% being owner occupied and 36% being rented either from a private landlord, local authority or housing association. Over nine out of ten of those English and Welsh owner-occupied properties are a whole house or bungalow. Now, most people would assume they would be freehold – however, of those renting nearly half of rental properties, 44% to be precise, lived in other leasehold apartments and flats.

But what does it actually mean for a property to be leasehold?

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Why are online estate agents only selling 52% of their listings?

‘Top High Street agents significantly out-perform onliners’ says HomeOwners’ Alliance. The consumer group has consistently promoted online agencies in the past, but has now published analysis stating that High Street Agents have a far higher success rate than online agents, selling 82.42% of homes listed with them compared to 51.98% among the onlines.

The HomeOwners’ Alliance also revealed that in the past six months, Britain’s online agents have achieved 95.85% of their original asking price, when the top 1,000 High Street Agents achieved an average selling price of 100.35% of their value, resulting in a whooping £10,530 difference (based on the average property sold price of £234,000 in February).

So why are online agents struggling to sell properties, and selling them for so far below the original selling price?

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10 things guaranteed to put your buyer off

A horror show of photos of a property up for sale by an estate agent

In a competitive property market, sellers can’t afford to put any buyers off by offering an unappealing home, so it’s key to address any issues that could put any doubt in potential buyers.

We’ve all seen and heard about horror stories like the photo above, so to make sure your house isn’t going to be in any hall of shame, we’ve picked out 10 things you need to avoid when selling your home:

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A look at the Birmingham property market over the last 12 months

With Birmingham being the second largest city in the United Kingdom after London, and with a population of 1,101,360; this is a city that is one of the busiest and most vibrant in the whole country. If you take a look at the metropolitan area figures for Birmingham, you’ll find that there is a population of 3.8 million which sees Birmingham listed in the Top 10 for most populated metropolitan areas in Europe.

With so many people already living in the area, and so many other people looking to move to the area, it is understandable that many people across the world have an interest in the Birmingham property market and any changes that have occurred over the last 12 months.

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What will the General Election do to 224,761 Birmingham Homeowners?

Image showing the 6 largest party logo created by Kari-Ruth Pedersen

In Birmingham, of the 416,130 households, 104,911 homes are owned without a mortgage and 119,850 homes are owned by a mortgage. Many homeowners have made contact with me asking what the General Election will do the Birmingham property market. The best way to tell the future is to look at the past.

I have looked over the last five general elections and analysed in detail what happened to the property market on the lead up to and after each general election. Some very interesting information has come to light.

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How has living in Birmingham City Centre Changed?

Photograph of the old street pattern in the Bull Ring. The last day for street trading here was September, 12th 1959. The photograph was taken in late 1959. Credit to ePapers Repository.

There have been significant changes in the heart of Birmingham in recent years and over the past decade. Back in 2003, the Bullring development was a major level of work and it paid off, bringing a greater volume of footfall through the shopping district than had been predicted. This helped to make Birmingham one of the leading shopping hotspots in the whole of Europe, something the city took great pride in.

On the back of this, and a level of demand for city living, there were a number of housing developments and new property being added to the city centre skyline. However, the most prominent changes in the heart of the city relate to the main transport hub in Birmingham, New Street Station.

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