How to sell a property effectively in Burnley
There can be hundreds of houses for sale in Burnley at any given moment, and this means that a comprehensive marketing strategy and a highly competitive asking price are both essential. This property guide to the Burnley property market contains information and guidance on finding a buyer for your home as quickly as possible. There is also a great way to secure a buyer for your home without interference from the open market.
Burnley has struggled with high unemployment and a lack of investment for many years, and these issues have kept house prices in and around the town far lower than the national average. And while house price growth in other areas of Greater Manchester has reached double digits, property values have been relatively static for houses for sale in Burnley.
Thinking of buying a home in Burnley? Research the Burnley property market here.
Why the initial asking price you set is crucial when selling houses in Burnley
Burnley has had more than its fair share of problems during the last century, as unemployment and social inequality have kept property values very low. But the situation is becoming far more complicated, and according to one article on the Daily Mail website, Burnley was leading the way in the growth of asking prices during 2015. While you should never set your own asking price based on others in the area, the asking price for the average home in Burnley rose by 57% between January 2015 and May 2015 indicates that the outlook for homeowners in the town is improving. Indeed, only Manchester and Chelsea in London recorded higher rates of growth. So there is little doubt that house prices are moving in the right direction throughout Burnley, but local buyers are still relatively sensitive to price. So if you need to sell a house quick in Burnley, you will need to set the asking price for your property at the optimum level for your neighbourhood.
Some careful research into recent sold house prices in your particular area of Burnley is essential if you’re going to garner the interest you need on the open market. Come in too high, and you will scare off buyers before they’ve even had a chance to view your property. But set your asking price too low, and there is a genuine risk of permanently devaluing your home in the eyes of local buyers. Although this research into house prices is something a house buyer or estate agent usually takes care of, you can do your own research on the Rightmove website. In addition, the Land Registry website is where you will find official government statistics on recent house sales, and you can view property transaction data for your part of Burnley by entering your postcode on the Zoopla property website.
The importance of a thorough marketing strategy when house selling in Burnley
Burnley’s employment levels are slowly creeping upwards, and there is a newfound optimism among consumers in the area. As a result, house prices have been rising modestly – and so has the demand for homes in the town. According to data on the Home website, the average detached property in Burnley spent 255 days on the market during July 2014. However, fast forward to July 2015, and the same house would have spent just 205 days waiting for a buyer to be found. So if you need to sell a house quickly in Burnley, the next three or four years are looking promising. However, it is important not to take the improving market for granted. When interest rates start to rise again, and when new Bank of England rules on mortgage affordability start to bite, there is a reasonable chance that the brakes will be placed on rising demand. It is therefore essential that you adopt a comprehensive marketing approach.
The marketing of a house for sale in Burnley is a complex, time-consuming process. It involves property listing, photography, home staging, property viewings, price negotiations and complicated conveyancing issues. You should only take on these complex processes yourself if you have the time and know-how required. While selling a house without an estate agent might save you some money now, it could end up costing you dearly unless you know what you are doing. Estate agents with houses for sale in Burnley don’t offer their services cheaply, but they can often unlock hidden value in homes through a combination of their knowledge and contacts.
Securing a house sale as quickly as possible is a top priority for some people. This is sometimes because of the need to sell up before costly repairs are required. Or in some cases, people need to sell their home before the bank repossess it. It doesn’t matter why you need to find a buyer quickly; Flying Homes can help you save time and money by cutting out the open market altogether. We buy homes in any condition for up to 100 per cent of their value, and we can sometimes have the proceeds of a house sale in the bank of a vendor within a week or two. Check out the value of your property using our online house valuation calculator and then call us for a chat!
Adopting a seasonal approach to house selling
Some people might be tempted to delay testing houses for sale in Burnley until what is viewed as a more profitable time of year to sell property in the UK. Unfortunately, the evidence suggests that no such time of year exists. The number of buyers on the market for a home can ebb and flow throughout the course of a year, but this doesn’t necessarily mean that the price potential of a property will be directly affected. For example, the busiest month to May 2015 for completed house sales in Burnley was May 2014. However, house sales will likely peak at different times of the year in the future.
The key to selling a house quickly on the open market is to garner as much interest in it as possible. The more buyers you attract to property viewings, the greater the chance you’ll receive a fast offer. Moreover, several interested parties might start to outbid one another – driving your sale price up. By making some seasonal changes to the decor, layout and facilities in your home, there is a reasonable chance that you will be able to find a buyer more quickly.
Assessing the issues that can increase house prices in Burnley
The news headlines regarding property values in Burnley and throughout Lancashire usually refer to the area as a whole, and they don’t often go into much detail about localised house prices. While it is true that property values have been stagnating in the town generally, you should research the detail of the housing market in Burney before reaching any conclusions regarding the value of your own home. To truly maximise the price potential of your property, make sure you know everything there is to know about recent house sales in your street.
A great marketing plan always draws upon the many issues that can drive up house prices in a particular area. One of the most significant issues to be aware of is the proximity of great schools. Buyers with children might be persuaded to up their offer for the privilege of getting their kids into schools with consistently good OFSTED reports. Many house buyers will also part with a little extra cash to live in an area with low crime rates. Issues that can indirectly affect house prices in the future might include a major new distribution centre for the area and the prestigious ‘On the Banks’ development in Burnley.
About Burnley
The town of Burnley is located in the ceremonial county of Lancashire in North West England. Just 20 miles east of Preston and 21 miles north of Manchester, Burnley is a thriving town that has a reputation for manufacturing and the aerospace industry. According to the 2011 census, Burnley has a population of around 73,500.
The town of Burnley was a collection of rural hamlets until the dawn of the Industrial Revolution, when it started to grow in size and stature very quickly due to the burgeoning cotton, textiles and engineering industries. Sadly, this golden economic era for the town ended during the 20th century, as most traditional factories and processing plants closed their doors for the last time. However, Burnley has managed to reverse its fortunes in recent years, and a new train link into central Manchester should enable the town to compete on a level playing field with other towns and cities in the North West.
Burnley’s series of regeneration projects and developments led to the town being awarded the 2013 Enterprising Britain award. As well as the town’s new train link, the ‘On the Banks’ development and a new aerospace supply village have created jobs and breathed new life into the entire area. Although unemployment in the area skyrocketed following the closure of the BEP and Michelin plants, the news has been far more positive in recent years. Several high-tech companies now have a base in the town, including aerospace specialists Safran Arcelle and GE. There is also a thriving retail sector in Burnley, the centre of which can be found on St. James Street and the Charter Walk Shopping Centre.
Out and about in Burnley
Although the bright lights of Manchester city centre are only a short train ride away, there is still plenty to do and see in Burnley itself. The stunning Towneley Hall, for instance, is a beautiful stately home that dates back to the 16th century – the perfect place to explore local history. A similar experience can be enjoyed at the resplendent Gawthorpe Hall, and there is a unique opportunity to delve into Burnley’s industrial history at the Queen Street Mill Textile Museum. Treat yourself to some beauty and relaxation treatments at The Woodland Spa, and enjoy some stunning scenery while you do. Combine a classic museum experience with a trip along the Leeds and Liverpool Canal with a visit to the Weavers’ Triangle Visitor Centre, which charts the history of cotton production in the area. Or if you just want to escape city life for a little while take a picnic to Towneley Park, which is perfect for relaxation and taking long strolls in beautiful surroundings.
