Guide to selling your home in Darlington in a competitive market.
There can be hundreds of houses for sale in Darlington at any time, which can make finding a buyer quickly a difficult task. However, with a comprehensive marketing plan and a sensible asking price, you can maximise your chances of a successful foray into property marketing. Or, if you are looking for an alternative, there are other ways to bypass the open market altogether and sell your house fast by considering a cash sale for your property.
Darlington’s housing market has suffered a torrid time in recent years, but there have been signs recently that a significant corner has turned where house prices are concerned. See our wider overview of the property market in the North East to keep abreast of current home price trends.
Why a competitive asking price is a must when selling your home in Darlington
Property has made a strong comeback after falling away sharply in the aftermath of the 2008 banking crisis. However, there could be a sting in the tail for homeowners, as a report from The Advertiser revealed that house price rises are set to fall. This comes after a period of relative strength in the local housing market, and it demonstrates that local buyers are growing increasingly price-conscious. In February 2014, The Northern Echo revealed that house prices in Darlington had risen by 3.4 percent in a single year. And there was an increase of 0.5 per cent in January alone. These rates of growth were considerably higher than in neighbouring Teesside, yet it seems that local homeowners are set for another period of relative property value stagnation. In these circumstances, a competitive asking price is essential if you need to sell your house in Darlington in a reasonable time-frame.
The Darlington property market is highly competitive when it comes to average house prices, so you will need to be realistic about your price expectations. You don’t want to put prospective buyers off viewing your home, but you also don’t want to permanently devalue your house. Therefore, you must research sold house prices in the streets around you to ascertain the optimum asking price for your home. While you have probably left this job to an estate agent or house buying specialist, you can perform the research yourself using some handy resources and tools on the Internet. There is a wealth of property transaction data freely available on the Rightmove website, and you can call up house sales data for Darlington by entering your postcode on Zoopla. In addition, the Land Registry web portal is where you can access official government statistics on sold house prices in Darlington.
Selling a house quickly in Darlington requires a detailed approach to marketing.
A shortage of supply in the housing market has led to very high house price growth rates in some regions of the UK. However, according to a recent article on the Telegraph website, supply constraints have failed to translate to rising property values in Newcastle and Darlington. It is clear that that economic pull to South East England, relatively high unemployment and relatively low wage levels are keeping property prices relatively stagnant across much of North East England. This means that a marketing strategy that covers every possible aspect of your property is essential. In addition, home loans are still relatively scarce, and buyers are wary about leaving themselves with negative equity. Factor in the prospect of interest rate rises by the end of 2015, and it’s clear that there are several challenges to overcome if you need to sell your house quickly in Darlington.
The marketing of a house for sale in Darlington involves a complicated process of advertising, drawing up property listings, managing the property viewing process, staging a home, negotiating on price and a myriad of related tasks. Therefore, you should only sell a house in such a challenging market without an estate agent if you have the time and know-how required. An estate agent in Darlington might charge a hefty commission to sell your house, but their expertise, experience and contacts could add value to your home on the open market.
Darlington Property Guide – Choosing the right time of year to sell houses
There is no right or wrong time of year to sell a home in Darlington. Although demand can peak at very specific periods of the year, predicting when these peaks will occur is difficult. And even if you could ascertain when demand would be at its highest, there would be no guarantee that the value of your home would rise accordingly (Spring is always a good time to put your house ‘on the market’). However, most estate agents and property experts are in agreement that homeowners should list their home for sale at a time that suits their personal situation. According to the Home website, October was the busiest month of the year to January 2015 for house sales in Darlington, but this statistic could change from year to year.
By adopting a seasonal approach to house selling in Darlington, you can broaden the appeal of your home and, perhaps, sell it more quickly. The priorities and wish-lists of property buyers can change in line with the seasons. Tapping into these changes could increase the appeal of your home, and help you to secure a buyer more quickly than would otherwise be the case.
What factors issues positively influence house prices in Darlington?
Darlington is a large town having several outlying villages, districts and neighbourhoods within its boundaries. Although house price growth has been very modest since 2013, this may not tell the whole story in your part of town. Before you set your price expectations, it is important that you research how much houses are selling for in your street, using the likes of Rightmove and Zoopla. There are some areas of Darlington where house price growth has been non-existent, including areas in the centre and to the east of the town. Conversely, property values in sectors such as Firth Moor, Middleton St George and Swainby have risen markedly during the last two years.
The successful marketing of your house on the open market requires knowledge of the issues that positively influence home prices. For instance, a home in the catchment area of a top school might attract a premium from parents, and a property located in an area of Darlington with low crime levels might also sell for more. But, of course, there could be issues unique to Darlington with the potential to drive up local property values, including the new retail and leisure development called The Oval and a proposed mixed-use development for the town.
About Darlington
Darlington is a large town located in County Durham. The town itself is the basis for the unitary borough of Darlington, which his home to more than 106,000 people. The town grew up under the influence of local Quakers during the early 19th century, and it became internationally famous as the terminus town for the world’s first passenger railway.
Darlington is a market town with a long history of rail travel, trade and manufacturing. And compared with other areas of the Tees Valley, it has a relatively low level of unemployment and high level of prosperity. Although heavy industry and mining played an important part in the local economy during the early 20th century, there is now a relatively high-tech economy in place. Among the single largest employers in Darlington are EE, the Student Loans Company and the Darlington Building Society. There is also a proud tradition of engineering in the town that dates back to the times of George Stephenson, and the likes of Cleveland Bridge, AMEC and Cummins are still headquartered in the area.
Darlington is home to a very successful retail sector, which provides hundreds of jobs to the area. As well as a very successful market, Darlington is also home to the Cornmill Centre, which is home to most of the UK’s leading chain store brands. In addition, a brand new retail and leisure development called The Oval is currently under construction, and it will give Darlington its first-ever multiplex cinema, as well as a large Debenhams store employing hundreds of local workers.
Things to do in Darlington
The market town of Darlington rose to prominence on the back of Victorian achievements – particularly its railway, which was the first passenger rail service in the world. You can discover the secrets of this proud history by paying the Darlington Railway Centre & Museum a visit, which still stands on the route of the famous 1825 Stockton and Darlington Railway. If you prefer to spend your time shopping, you can browse the UK’s leading stores at the Cornmill Centre, or peruse a vast range of offerings at Darlington Market. There is also a Farmer’s Market in the town on the third Friday of every month. However, if adrenaline-fuelled activities are what you’re looking for, why not take a car around Croft Circuit? There are also plenty of opportunities to relax in stunning surroundings in this part of County Durham. Paddock Farm Water Gardens, Preston Hall Museum and Park, Butterfly World and Wynyard Woodland Park are all fantastic places to visit if you prefer more relaxing leisure activities.
