Property Market Update: December 2020

Property Market Update – December 2020

Scotland’s move to Tier Four restrictions on Boxing Day should not impact on house moves, under the current government guidelines. Assuming no further changes are announced, moves can continue to take place in the tier 4 protection level, provided they can be carried out safely.

Our immersive 3D virtual tours enable potential purchasers to take a simulated walk-through of our properties for sale and gain digital measurements of any part. We can carry out virtual valuations and viewings where preferred and, as things stand, can continue to carry out valuations and viewings at properties, whilst following government guidance to keep people safe.

The Land and Buildings Transaction Tax holiday, coupled with the change in lifestyle caused by the coronavirus outbreak, is encouraging people who may have been thinking of selling to take the plunge and get their properties to the market while there remains buyer interest and demand.

As we enter the festive period, we take a moment to reflect on what has been an extraordinary year.

January – November 2020

Looking at the year-to-date figures, we:

Launched 225 new properties to the sales market
Sold 206 properties with a total value in excess of £38 million (remarkably, 75% of sales occurred in the 6 month period between June and November)
Listed 157 properties for rent
Agreed 141 tenancies
Helped 37 new landlords get their properties to the rental market

Sales Market: June – November 2020

Since the housing market re-opened at the end of June, we have helped a phenomenal number of people move home as unexpected market momentum overcame the unknowns of the pandemic and the property sales sector experienced a mini-boom.

We launched 158 new properties to the market
Sold 150 properties
Overall, activity was up by around 50% on the same period last year
July was the busiest month when we helped vastly more people move home in a single month than ever before

According to official statistics from Rightmove, we sold more properties than any other agent in the Perth area (PH1 and PH2 postcodes) during this period.

Sales Agreed in Perth Area: 29 Jun - 30 Nov 2020

November 2020

We sold 23 properties (up slightly on Nov 2019).
74% of properties sold at asking price or above.
The total value of sales agreed was £3,963,750
We negotiated an additional £50,800 for our clients (an average of £2,200 per property).
We listed 14 rental properties and agreed tenancies on 11 properties

October 2020

We launched 25 new properties to the market (up 14% on last October)
Sold 27 properties (50% more than October 2019)
The total value of sales agreed was £4,698,495
67% of sales were agreed over asking price (generating an additional £56,070 for our clients).
We listed 14 properties for rent and agreed tenancies on 11 properties

The past five months has been the busiest period we have ever experienced at PPP. Our staff, photographer, contractors and the surveyors and solicitors we work have all went above and beyond to cope with the increased demand and ensure home moves happened as smoothly as possible.

We welcomed two new members of staff to our estate agency team

Is Now a Good Time to Buy or Sell?

In spite of the unusual year we have had, UK mortgage approvals hit a 13-year high, partly due to the increased demand caused by the pandemic and the Land and Buildings Transaction Tax holiday. Good mortgage rates are still available and there is still time to take advantage of the lower threshold for LBBT which has been raised temporarily to £250,000 until 31st March 2021. The start of the new year is traditionally a busy time for the housing market as buyers and sellers alike use the festive period to plan the year ahead. Many will view 2021 as a time to focus on reprioritised housing needs and to start afresh. And, with the potential LBBT savings, we expect market momentum to continue into next year.

What our clients say about us

Testimonials

Caroline & Tony Fellows (July 2024) – “Many thanks to Premier Properties and all their staff for handling our property sale quickly and efficiently. We are very grateful for their dedication and efforts they put into making the sale.”Estate Agency Client | 1 Bed Flat | Crieff Road, Perth

"Recommended to us by a family member. Efficient and Helpful staff. Very satisfied with the marketing and customer service. We were happy with the outcome of our sale and everything involved. No problem recommending P.P. as we were satisfied with the work they put into selling our property. Many thanks to Premier Properties and all their staff for handling our property sale quickly and efficiently. We are very grateful for their dedication and efforts they put into making the sale."

Ian McCully (July 2024) – “Would recommend, excellent staff.”Estate Agency Client | 5 Bed Detached Villa | Coronation Avenue Scone | Sold at Home Report in 2.5 Weeks

"Used Premier Properties Perth for previous sales. Very good marketing and communication. Would recommend, excellent staff."

William Walker (July 2024) – “Following meetings with a few estate agents, we chose Premier. The representatives we met were professional and friendly. The property sale was dealt with in a friendly, professional manner, with good communication and helpful staff.”Estate Agency Client | 2 Bed Flat | Rosslyn Court, Rosslyn Avenue, Perth|

"Following meetings with a few estate agents, we chose Premier. The representatives we met were professional and friendly.

Everything was handled well. The photographs and video were excellent, and it was good that we could amend the wording relating to the property to what we thought fitted best. Any instructions we gave regarding the marketing/pricing of the property were followed through and appropriate advice and recommendations provided.

Overall, I was very happy with the whole process. Would recommend. The property sale was dealt with in a friendly, professional manner, with good communication and helpful staff."

Jim Grieve (June 2024) – “Sold within a couple of days so our relationship was short and sweet! Felt engaged with and staff were professional and efficient.”Estate Agency Client | 2 Bed Detached Bungalow | Knockard Place Pitlochry | Sold in 3 Days Over Home Report Value

"You were recommended by friends in Pitlochry and your price was competitive particularly when we said we didn’t need your viewing assistance service.

The property was well represented and marketed. Excellent service from staff. All very good. Sold within a couple of days so our relationship was short and sweet!

Felt engaged with and staff were professional and efficient. Good service at a competitive price."

Lisa Dillon (June 2024) – “Great professional service. The whole experience made me feel secure.”Estate Agency Client | 2 Bed Mid-Terraced House | Victoria Street Perth | Sold in 12 Days Over Home Report Value

"Simple process ... great services. The marketing made our property look fantastic.

Great professional service. Perfect negotiation.

The whole experience made me feel secure. Would recommend ...easy process."

Pam O’Brien (May 2024) – “Great to deal with, nice people and on the ball.”Estate Agency Client | 4 Bed Detached Villa |1 Thriepland Wynd Perth | Sold in 9 Days Over Home Report Value

"Great to deal with, nice people and on the ball. We had an ex-rental property to sell, and had to decide whether to 'love it' or 'list it' in it's current condition. Katie & Alan were great and understood our situation, we decided to try the property on the market and discussed a fair price for the 'list it' option. All went well and the property sold quickly. Can't thank them enough for their advice and support. Would definitely recommend this company and would use them again."