How to Sell Your Home in Grimsby With Many Houses for Sale Vying for the Attention of Buyers
There can be hundreds of properties for sale in Grimsby at any given moment, which means that a competitive asking price and a comprehensive marketing plan are essential. This guide to the local housing market filled with tips and advice on securing a quick house sale at the right price in Grimsby.
House prices and the housing market in Grimsby
Grimsby house prices are amongst the lowest in the UK. After the banking crisis of 2008, average property values in the area plummeted, and they took a long time to start recovering. There is still a long way to go before the local real estate market improves those losses, so if you need to sell your house fast in Grimsby, you face an uphill task. But there is an alternative to the open market, and it involves selling your home to us. At Flying Homes, we represent buyers and investors all over the UK. We buy any house on their behalf and for up to full market value allowing us to process purchases within a matter of days.
Set your initial asking price carefully when selling in Grimsby
Few areas in the UK were hit as badly as Grimsby after the banking crash of 2008. The average price of property in the area plummeted, and until very recently, house prices showed very few signs of making a sustained recovery. And although the recent improvements welcomed by homeowners in and around the town, there are still reasons why it’s vital you are realistic in your approach to setting an initial asking price. According to an article on the Grimsby Telegraph website in 2014, house prices remained relatively static – at a time when they were rising sharply in many other areas of the UK. Between 2013 and 2014, home prices nationally grew by 6.9 percent, according to Rightmove. And in the East Midlands, the rise was 7.1 percent during the same year. Local buyers are still price-conscious, so a competitive asking price is a must.
The best way to sell your house quick in Grimsby is to give as many local buyers as possible the chance to find real value in a home purchase. Research sold house prices in the immediate area and setting an asking price accordingly. Estate agents usually carry out property price research, but you can do it yourself by using one of the several resources on the Internet. For instance, it is possible to call up hundreds of recent house sales on the Zoopla website simply by entering your postcode. There is a myriad of property sales data for Grimsby available from Rightmove, and The Land Registry publishes sold house price data from government sources on a regular basis.
A detailed marketing strategy is important too
The housing market in Grimsby, part of the larger Yorkshire and Humberside property market, continues to struggle. Although things are improving the recent recovery in house prices has been modest and fragile. Consumer confidence and average wages are still relatively low in this part of the UK, which is why you might need to make an extra special effort to attract buyers in sufficient numbers. Data published on the Home website has revealed the extent to which property values have been stagnating in and around Grimsby since the house price crash of 2008. Although well below the national average, home prices rose sharply between 1996 and 2007. However, in the eight years since, there has been no change. Unemployment in the area is still relatively high; banks are reticent about lending to first-time buyers and buyers are concerned about paying too much for houses. All of these factors mean you will have to work extra hard in your attempts to lure prospective buyers to property viewings.
With the Grimsby real estate market in such a fragile state, the last thing you want to be doing is putting your house sale at an immediate disadvantage. The tougher the market conditions, the more important a thorough marketing strategy is. Don’tsell your house without an estate agent unless you understand the local property market. You might be tempted to go it alone on the open market in a bid to save on the cost of an agent’s commission, but that could end up costing you more in the long run – in the form of lost value. An estate agent in Grimsby might be expensive to hire, but hiring the right person for the job could result in your home attracting a premium.
If your top priority is to sell your house quickly in Grimsby, selling on the open market may present you with a dilemma. There are never any guarantees of a quick sale when selling the traditional way – even with the help of a talented and experienced estate agent. Finding a buyer is fraught with uncertainty, and even if you get a buyer relatively quickly, several things could postpone or cancel the sale of your home. However, by selling your house to Flying Homes, you can bypass advertising, marketing, countless property viewings and protracted negotiations altogether saving you several weeks, which might be essential if you’re trying to avert repossession or you’re relocating at short notice for a new job. We can pay as much as 90 percent for residential property in the UK, we can buy any house, and our buyers have been known to complete purchases within seven days.
Choose the best time of year to sell
Unless there is some very specific information available regarding the local property market, most agents and property experts will tell you to list your house for sale in Grimsby at a time that suits your needs. There is little to be gained from delaying your house sale until what you believe is a more valuable time of year. Strangely, the busiest month of the year to January 2015 for home sales in Grimsby was July, unusual, as many people are preoccupied with the planning and expense of summer holidays at this time of year. Demand for homes does fluctuate throughout the course of a year, but there is little evidence to suggest this translates directly to higher sale prices.
By tailoring your home, and your marketing strategy, to the current season, you should be able to appeal to the changing priorities and wish-lists of house buyers at different times of the year, widening the exposure your home gets on the market, and hopefully result in a buyer relatively quickly.
Factors affecting house prices
Grimsby is a large town that has several different housing estates and neighbourhoods within it. Although most property experts are reporting stagnation within the local market, you might find that the outlook for property values in your particular locality is a lot more active. And most of the statistics reported about the town itself – and not to the many outlying villages in the area. Before you reach any conclusions, you should delve into the detail of local house prices using Rightmove and Zoopla.
There are always several factors in any town or city that have the potential to affect property prices positively. You might not necessarily be in a position to influence these factors, but including them in your marketing strategy could be the key to unlocking hidden value on the open market. For instance, parents are always on the look-out for homes that lie within the catchment area of top schools – and they will part with a little extra cash for them. You might also be able to extract a premium for your home if located in an area that benefits from low crime rates. Also, make sure you’re aware of the issues unique to Grimsby that might drive house prices up in the future, including matters such as a new retail area in Grimsby and a new development in the Cartergate area of the town.
All about Grimsby
Grimsby is a town located on the Humber Estuary on England’s North Sea coast. This vast urban area has a hugely successful seaport, and its fishing industry is still one of the most successful in Europe. For decades, Grimsby was part of Lincolnshire but absorbed into the newly created county of Humberside in 1974. However, the town reverted to the control of North East Lincolnshire Council in 1996.
With a population of around 90,000, Grimsby forms the basis of the larger conurbation of North East Lincolnshire – of which Cleethorpes is also a part. The village of Scartho was absorbed into Grimsby several years ago, and the population of the entire area is now more than 120,000.
Grimsby has a relatively diverse economy dominated by industries related to the port and logistics. The processing of foods and fish is one of the area’s most prolific industries, but some jobs located in industrial estates and business parks throughout the region. Sadly, the town’s fishing industry has declined markedly over the years. And although 20,000 tonnes of fish are processed in Grimsby every year, the majority of it is landed overseas – mainly in Iceland. The town is still home to one of Europe’s most successful fish processing industries, however, and among the major employers providing jobs to local workers include Findus, Coldwater Seafood, Five Star Fish and Young’s. Grimsby is also home to the new £5.6million Humber Seafood Institute, which develops new and increasingly efficient ways to process and store fresh fish.
Visiting the town of Grimsby
Grimsby is a coastal town with a long and proud tradition of seafaring and fishing, but there is a lot more to this area than the fishing industry. For instance, you can explore the stunning architecture of Grimsby Minster, or pay a visit to the world famous Grimsby Dock Tower, which has dominated the local skyline for more than 130 years. Just a short trip to the neighbouring town of Cleethorpes will allow you to explore a range of attractions at the Discovery Centre, and the Jungle Zoo is home to several species of wild animal. Explore the area’s association with the fishing industry at the Grimsby Fishing Heritage Centre, or enjoy all the fun of the fair at Pleasure Island Family Theme Park. You can step back in time to a more genteel era with a visit to the Lincolnshire Wolds Railway, or enjoy a stroll and a picnic at nearby Weelsby Woods. You should also take the time to visit two of the town’s most famous landmarks – Corporation Bridge and Waltham Windmill.
House prices in Grimsby are stagnating, and demand is still lower than it was in 2007. In these circumstances, it will be relatively difficult to secure a quick house sale in the town. However, the home buying service offered by Flying Homes could be the answer to your need for a quick house sale. We buy houses at nearly full market value. And because we buy directly from you, the open market is left out of the house selling process entirely. Speak with one of our home buying agents today or fill in our on-line form for a no-obligation quote.
Hope you have enjoyed reading our Grimsby property guide!