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Shropshire On A Par With Land Registry House Price Growth

24/08/2017

Home values and transactions in Shropshire reflect a resilient residential market, according to one of the county’s leading estate agents.

Head of Sales at Balfours, Alistair Hilton, says the Land Registry’s recent June figures show the average residential property in England has an annual increase of 5.2%.

He explains: “This is on a par with our sales figures for the past 18 months and mirrors a market where people do want to buy and sell. The politics – which have been so topical during this period – have never been more than a discussion point and have had virtually no influence on final decisions.”

Whilst one property investment specialist highlights fierce competition in key northern cities such as Manchester and Liverpool, Alistair says Shrewsbury’s market has enjoyed a similar flurry this summer. “New to the market properties in Shrewsbury have seen strong competition, with multiple bidding and above asking pricesachieved in some instances.

“It is not a runaway market - and we would not want this - however there are buyers out there who know what they want and understand the value of making the right offer to secure a property, rather than prolonging the search.”

A market of regions, land registry data for Wales continues to show steadier annual growth at 3.6% per annum. “We have some wonderful properties on the border and in Wales, homes which reflect excellent value in terms of space and the quality of life.” If you would like to discuss your property with Alistair Hilton, call 01743 353511.

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Autumn Newsletter 2017

23/08/2017

The 2017 Autumn Newsletter is now available - please click here to read. We hope you enjoy it!

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Ask the Expert

23/08/2017

We last arranged our business finance, when we purchased some extra farm land, about five years ago. Is it worth reassessing and possibly restructuring with the bank?  Balfours partner, Rory Galliers MRICS FAAV, replies:

 

The answer is an emphatic yes. With inflation lower than expected for July when it held at 2.6% and the Bank of England saying they are unlikely to raise interest rates in the short term, a window of opportunity remains.

It is true to say that five years ago major lending banks were having difficulty sourcing funds, as a result margins were higher, and typically some loans were 4% over base rate. Today at AMC we can considerably improve on that. 

Since then we have seen stabilisation and settling in the market, now allowing much more competitive deals to be offered. Long term fixed rates have been volatile, but again have settled so that it is still possible to fix long term money up to 30 years at very competitive rates.

The one barrier to borrowing at present is the increasing red tape bureaucracy over Anti Money Laundering – AML - regulations, which require a much stricter approach to identity documents and clarifying the purpose of borrowing. AML is a minefield which we are leading clients through. This is particularly the case where the borrower is a trust or limited company, both of which are caught heavily by the new AML regulations. 

Despite this I am pleased to say as agents for AMC at Balfours we have had a busy year and our best on record, resulting in being the top performing agent in the region. This is because our experience enables us to give quick and clear advice on AMC lending criteria.

So far this year we have already submitted a large number of applications, so there’s good reason to believe that we shall be breaking our record again for 2017, while interest rates hold at a near historic low.

As always there’s a wide range of lending purposes but we are seeing more poultry enterprises coming forward. One of the drivers for the upsurge in applications is the availability of low fixed rates for up to 30 years.

This email address is being protected from spambots. You need JavaScript enabled to view it. or call Rory on 01743 241181.

Tractor

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Town Home Addresses Popular

22/08/2017

New to the market Shrewsbury town residential sales are generating a hive of activity at Balfours.

Head of sales, Alistair Hilton, says that there is currently a hunger for property, as the number launched continues to be outstripped by those seeking to purchase.

He explains:  “It is really a market of two halves and certainly prospective vendors are keen to view new launches to the market – to a point where we have seen strong competition where a property suits more than one buyer. Conversely there is also a steady flow of new buyers, either moving to or researching their next move within the area that are generating positive, but less intense sales.

One such new launch is a grade II listed renovation project which was snapped up within hours of being launched to the market with a guide price of £410,000.

Situated less than a mile from the town centre 11 Holywell Terrace is a classic Georgian townhouse built in the 1830s. Head of sales at Balfours, Alistair Hilton says: “It is a four bedroom home in the heart of Abbey Foregate, in a quiet and secluded position, yet a short walk from various bars and restaurants. The vendors are delighted to have secured a sale so quickly. It does demonstrate that quality period properties in accessible locations continue to be very popular.”

Other properties to fly off the boards this summer include 21a  Belmont, a three or four bedroom Edwardian home with rooms over four floors, and a terrace, marketed with a guide price of £580,000. “From launch to completed was achieved within a month – and that is the second time for us this year,” explains Alistair.

A two bedroom apartment 7 Pride Hill enjoyed multiple offers and went under offer within a short time of coming to the market with a guide price of £285. He adds: “Of course we must be realistic not all properties will find buyers with such speed. What I can say is Brexit has never been more than a discussions point in relation to the property market and has not actually influenced the many vendors and buyers I have spoken to in the property market.” If you would like a free appraisal, call Alistair on 01743 353511.

Pictured

  • Main: Holywell - classic period town houses remain popular
  • 21a Belmont – launch to completion within a month
  • 7 Pride Hill apartment - multiple offers received

 

11 Holywell Main

21a Belmont Lounge

Pride Hill House Kitchen

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Land Agent Appointment

21/08/2017

Four years of University studies has paid off for 2:1 graduate Annie Helliwell who has landed her first post graduate job in Estate Management.

A Harper Adams University graduate, Annie has joined Balfours Craven Arms based Estate Management team.

She explains: “I have spent the past four years studying Rural Enterprise and Land Management, in short the REALM course at Harper. During that time my placement year was at the Bolesworth Estate in Cheshire, which gave me a great insight into day to day estate management.”

The twenty three year old admits it was her formative years growing up in rural Northumberland which inspired her passion for rural matters and ultimately sparking a career in land agency. She is delighted to take her first job immediately after graduating and in Shropshire, after getting to know the county while at Harper Adams.

Annie is to work with Balfours partners, Peter Wright and Andrew Liddiment.  Andrew comments: “Annie has demonstrated ability and commitment; we are thrilled to have her in the team.” Already Annie is looking to her next goal to qualify as a rural surveyor through her RICS Assessment of Professional Competence (APC) and Central Association of Agricultural Valuers Exams (CAAV).

Always with an eye on the next target, Annie enjoys clay shooting and has made her new home just outside Shrewsbury.

 

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Address Encapsulates Village Charm

14/08/2017

True charm is encapsulated in this four bedroom grade II listed home. It is launched to the market with 2.3 acres incorporating garden, woodland and a small paddock – providing the opportunity for significant self-sufficiency for those seeking the “good life.” There are also adjoining outbuilding perfect for upgrading, subject to the appropriate permissions. The Old Post Office at Priest Weston is on the market with Balfours with a guide price of £475,000.

A village of rural tranquillity, Priest Weston now draws on local services at Church Stoke, three miles away; Montgomery and Bishops Castle, while Shrewsbury and Ludlow are 18 and 25 miles respectively.

Agent, Scott Kemsley of Balfours comments: “As the former post office this property is in the heart of the village, however behind the scenes it has spacious accommodation and a myriad of outdoor features.  There are four reception rooms all of good size, with the dining room linked directly to the kitchen. The kitchen in turn has access to a beautiful veranda, the utility and downstairs shower room. There is a snug, living room and a study, the latter has its own front door.

“An adjoining workshop and generous size store room, together with the study offers flexibility and potential for a separate residential annex or business and comes with planning permissions for an additional storey,” adds Scott.

While the village beckons to the fore of this property, the rear reveals breath taking views to the Kerry Ridgeway – enjoyed from the kitchen, sitting room and study each of which has French doors leading to the gardens with, orchard, paddock and woodland beyond. A log store and garden shed satisfy the needs of the land.

For the Old Post Office to be your address of choice, call Scott Kemsley on 01743 353511.

Please click here for further information.

Old Post Office Main front

Old Post Office sitting r

Old Post Office Bedroom

Old Post Office Balcony

Old Post Office back

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