What’s the best way to market your home for sale in Middlesbrough?
With hundreds of houses for sale in Middlesbrough at any given moment, getting yours to the front of the house buying queue is not an easy task in a competitive market. This guide to the local Middlesbrough property market should help you make the right house selling decisions for a quick and profitable sale.
Property values have been declining in Middlesbrough for several years now, and they aren’t showing too many signs of improvement shortly. Unemployment is high, and inwards investment is relatively low, directly impacting house prices in the area, therefore there are some significant challenges to overcome in what is usually a depressed housing market.
Why the initial asking price you set is crucial when selling a property in Middlesbrough
Although the entire country was affected by the last recession, few towns or cities in the UK felt its effects more keenly than Middlesbrough. The house price decline witnessed in the town has been deep and prolonged, and there aren’t too many signs of a sustained recovery happening any time soon. Whilst many towns and cities are now experiencing astonishing house price growth, homeowners in Middlesbrough are being forced to face the prospect of yet more property value falls in the coming months. With house prices for sale in Middlesbrough so volatile in the town, the need to be realistic and set a competitive initial asking price for your house is of paramount importance.
The Gazette revealed the Middlesbrough suffered the largest annual fall in house prices in England and Wales during 2012. The average cost of a home in the town fell by an astonishing 16.5 per cent, which meant the average price of a house on the open market was less than £70,000. Buyers are, of course, aware of these issues, and they are determined to snap up properties in Middlesbrough at bargain-basement prices.
You may decide to rely on the services of an estate agent who will take care of setting the initial asking price of your home. However, you can gauge your home’s potential market value by using several online tools to research sold house prices in your area. The Zoopla website allows you to search for recent house sales data by postcode, and there is a lot of property transaction data available on the Rightmove website. The government publishes its official property sale statistics via The Land Registry web portal. Finally. You should use historical sales data from your specific area to set an asking price that delivers value for both you and local buyers.
Who should be marketing your house for sale in Middlesbrough?
A house was listed for sale on the open market in Middlesbrough for just £750. Whilst there have been widespread reports of auction prices starting as low as £1, this is a low price for the traditional market. Furthermore, it reveals the extent to which the situation in the town has deteriorated in recent years. However, if you need a quick house sale in Middlesbrough, you will need to overcome a deeply troubled market and steeply falling property values.
A local newspaper revealed that whilst house prices in nearby Redcar are actually rising, house prices for houses for sale in Middlesbrough were actually still falling as recently as September 2014. So if you have no other option than to sell your house quickly in Middlesbrough, you may need to accept the reality that you may not meet your price expectations on the open market. The only way to negotiate the property market successfully in these circumstances is to enlist the expert services of an estate agent in Middlesbrough. Yes, this will represent an added cost you can ill-afford, but it should deliver the best possible price for your home.
There are some things that even the best agents can’t deliver, however. If a quick house sale is critical to your plans, you may benefit from our house buying service that completely cuts out the open market. We have cash-ready investors who are willing to commence the house purchasing process today.
Is there a profitable time of year for house selling in Middlesbrough?
There is very little credible evidence to suggest that a link between the time of year and house values exists. While many property experts believe that peaks in demand for homes occurred during the weeks after New Year and the summer holidays, the recent economic difficulties have made predicting such patterns incredibly difficult. Indeed, the Home website recently published data that revealed December was the busiest month of 2013 for completed house sales in Middlesbrough. So if you want to use the time of year to your advantage when selling your home, it’s best to concentrate on making changes to your home’s layout and decor according to the seasons.
What factors are currently influencing Middlesbrough house prices?
There is no doubt that most of the headlines surrounding the price of houses for sale in Middlesbrough make for depressing reading. However, some localised areas in the region are performing a little better. For instance, houses in Billingham, Acklam, Marton and Nunthorpe have been increasing in value during recent months. However, before you reach any conclusions on the value of your home, it’s a good idea to research local sold house prices in your locality using the likes of Zoopla and Rightmove.
There are some external factors at play that could positively affect the market value of your house, and knowing what they are will help you make the best house selling decisions possible. For instance, houses near top schools are always in demand amongst parents. Similarly, homes in areas that enjoy low crime rates or good transport links should be able to attract a premium on the open market.
You should also be aware of any issues specific to Middlesbrough that have the potential to affect the market price of your property. For example, a £55million leisure and retail development are underway in the Riverside Stadium’s shadow. In addition, the regeneration of the town centre and Middlesbrough Town Hall may attract new businesses into the town, and the prestigious Digital City project continues to breathe new life into an ailing economy.
About Middlesbrough
Located on the banks of the River Tees, Middlesbrough is a large, industrial town in the North East of England. It is a major centre of the chemical industry now, but as recently as the beginning of the 19th century, Middlesbrough was just a small farming settlement with a population of 25. As the British economy started to grow during the Industrial Revolution, so did the town’s boundaries. Fuelled by burgeoning levels of international trade and a growing reliance on coal, the town’s economy soared during the 19th century – and so did its population. Middlesbrough dock opened in 1842, and Teesport soon became one of the world’s busiest trading ports.
The chemical industry has been one of the driving forces behind Middlesbrough’s economy for more than one hundred years. Still, the town also has an international reputation for manufacturing steel and the transportation of coal. Many heavy industries grew up around the port, including Dormon Long, which built the component pieces for both the Sydney Harbour Bridge and the Tyne Bridge in Newcastle. And by the 20th century, the town also had a reputation for the construction of steam freighters.
Unfortunately, Middlesbrough suffered the same industrial decline that afflicted so many towns and cities during the latter half of the 20th century. This created widespread unemployment and an image problem that the town has struggled to shake off. However, it is worth remembering that the town is still home to a very productive chemical industry, as well as the UK’s third-largest trading port.
Middlesbrough is a town that was built on heavy industry, manufacturing and trade, yet it is also home to several tourist attractions and installations devoted to the arts. If you are travelling to the town with children, you should take them to Newham Grange Country Farm for the day, where they can feed the animals at a large petting zoo. If you want to delve into local history a little, there is no better place to do it than at Ormesby Hall, which is a majestic country mansion that has its very own model railway exhibition. One of the most iconic sights in Middlesbrough is the Tees Transporter Bridge, which always looks impressive when lit up at night. Another exciting attraction for all the family is the Dorman Museum, which is filled with scientific exhibits that are both intriguing and interactive.
If you are looking for some sedate activities to enjoy during your time in Middlesbrough, there are some splendid parks to choose from. As well as Albert Park and Centre Square, you can also take a stroll around the huge Stewart Park, which is home to the Captain Cook Birthplace Museum. If your interests involve museums and art galleries, you won’t be disappointed with the selection in Middlesbrough. As well as the prestigious Mima gallery of contemporary art, you can while away the hours at Platform Arts Studios, Platform A and the House of Blah Blah.
House prices of houses for sale in Middlesbrough are still falling in many areas of the town, and securing a quick sale on the open market is often tricky. However, if you simply can’t afford the open market to secure the buyer you need, you may be able to sell your home quickly with a minimum of fuss.
If buying or selling in Middlesbrough, then check out our investment data page here.
