Selling in Nottingham? We look at some pointers
Make your property stand out from the thousands of homes for sale in Nottingham to get the best chance of selling. Our guide to the local housing market should help you along the way.
The city managed to weather the storm of recession reasonably well, but employment did drop drastically between 2008 and 2010 – the result of Nottingham’s heavy reliance on retail for jobs. And despite a rough ride during the economic downturn, there is a feeling that sufficient jobs are now being created to kick-start the local housing market.
Despite the relatively positive news surrounding Nottingham’s real estate market, you still face an uphill task if you need to sell fast in Nottingham. Home loans are still in relatively short supply, and there is still a degree of mistrust amongst property buyers when it comes to sale prices. Flying Homes can help you to bypass the housing market altogether. Our expert property buying service will help you to find a buyer and deal with conveyancing. Our registered buyers can complete a purchase within a matter of days in Nottingham.
Ascertaining what the initial asking price should be when selling property in Nottingham
After a torrid time in the local housing market, homeowners with houses for sale in Nottingham can look forward to a period of relative strength in the market. But with banks still abiding by strict lending criteria, finding buyers in sufficient numbers to drive up the value of your home will be difficult. To sell your house quick in Nottingham, you will need to pay close attention to your initial asking price.
Before you start to get too excited about reports that the Nottingham housing market is on the verge of a property bubble, you should take steps to ascertain your home’s actual value – it is only worth what someone else is willing to pay for it, after all. If you have chosen to enlist the help of property buying specialists or a local estate agent, you will get help and guidance with the setting of your asking price. However, don’t be afraid to do your research on local house sales.
There is no secret about how professionals set asking prices – all the information required is freely available on the Internet. You can check what houses in your street have sold for in the last few weeks on the Rightmove website. You will also be able to peruse a wealth of property transaction data on Zoopla’s award-winning site. The UK government also publishes official information on sold house prices via The Land Registry website. Make sure the asking price you set delivers value for you as the owner, and a decent opportunity for buyers, and you should be able to generate a fair amount of interest. We also offer a free property valuation widget, which can give you an approximate value of your home.
How to approach the marketing of your home in Nottingham
There is a great deal to think about when marketing property – especially if you need to sell your house quick in Nottingham. Yes, there are clear signs that property values are on the rise throughout the region, but it’s also important that you do everything you can to ensure you maximise interest in your home. Only by doing that can you optimise its value.
If you decide to take on the marketing of your house yourself, you should prepare yourself for a long, hard slog. You’ll need to organise professional photos, list your property for sale in local directories, stage your home for viewings, deal with property viewings, take charge of price negotiations and liaise between lenders, buyers and conveyancers. And you’ll also need to gain an understanding of the local market.
While going it alone in the property market could save you the cost of hiring an estate agent in Nottingham, this could prove to be a false economy. Yes, you can save yourself a few pounds in commission, but how do you know that you’re maximising your property’s potential unless you have extensive knowledge and experience of selling a property?
Even if you do enlist the services of a local agent with houses for sale in Nottingham, there are no guarantees involved if you need to sell your home quickly. Flying Homes can provide you with a degree of certainty over price and timescales via one of our property buying partners. There’ll be no need to market your home at great expense, no haggling over price and no worrying about the offer being reduced or withdrawn at the last minute. We have an extensive network of buyers and investors on hand, so we are confident that you can sell your home in a matter of days – in whatever the current condition.
Choosing the best time of year to sell a house in Nottingham
Data published on the Home website suggests that there are only very tiny differences in house values when selling according to the time of year. While sales price took a small dip in November of 2013, they were pretty much consistent throughout the year.
If you are wondering when the most buyers are going to be in the market for a new home, the picture is less than certain. It used to be the case that the number of buyers looking for property increased shortly after Christmas and the summer holidays. However, the recent turmoil in the housing market has changed everything. Indeed, the busiest months for house sales in Nottingham were August, November and December in 2013, which contradicts modern thinking.
Don’t get too caught up in choosing a particular time of year to sell your house. Instead, adapt your house-staging and marketing strategies according to the season. If it’s summer, think space, light and outdoor areas. In the winter, make warmth and cosiness your priorities. You may not make a substantial difference to the final selling price, but you should be able to secure a far quicker sale than would otherwise be the case.
Assessing the factors that contribute to house price rises in Nottingham
There are several reports in the media of steeply rising property values in the area. However, it’s important to bear in mind that there are always thousands of houses for sale in Nottingham at any given time. And within the city there are several different mini housing markets – all performing at varying levels.
For instance, there are areas in the north and south of Nottingham that are benefitting from high demand and steadily rising house prices; they include Mapperley Park, Woodthorpe, Wollaton, Park Estate, Bramcote and West Bridgford. Unfortunately, not all the districts of Nottingham are performing so strongly when it comes to property values. The likes of Sherwood, Carlton, and the Ransom Road area are all suffering property price stagnation. So whether or not you can cash in on the current boom in house prices depends on exactly where in Nottingham you live. See our regional look at the East Midlands property market to see what’s happening with home prices currently.
Of course, Nottingham is subject to all the common contributing factors that combine to set local house prices. As well as employment levels, wages and the overall performance of the local economy, property values are also positively affected by low crime rates, decent transport links and high-performing schools. Nottingham, in particular, is benefitting from some high-profile developments that should help to sustain property values in the region. The city’s tram route continues to expand – giving the entire area the transport links it needs to attract investment and jobs. The Nottingham One development has managed to attract jobs and wealth to the city, and a brand new housing development in Clifton has created hundreds of construction jobs. There is no doubt that the next few years could be very exciting if you own property in Nottingham.
About Nottingham
Nottingham is a city in the East Midlands of England with a population of around 310,000. However, when the surrounding suburbs and outlying areas of the city taken into account, the population is well over 700,000 – making it one of the largest metropolitan areas in the UK.
Nottingham has a long and proud history of Royal visits, commerce and innovation. It also has one of the most successful tourist industries in Britain – partly due to its longstanding association with Robin Hood. In 2011 alone, more than £1.5 billion tourist pounds spent in the city.
Nottingham is home to several national headquarters due to its strategic position right at the heart of England. Indeed, pharmacy retailer Boots has its global base in the city. Nottingham also enjoys a fruitful association with the arts and a creative district that is currently one of the most successful in Europe. Other major employers in the region include E. On, Capital One, Siemens and Vision Express.
The City of Nottingham has a proud and illustrious history as being a centre for commerce, Royal military might and innovation. It is one of the most visited cities in Europe thanks to the Robin Hood legend. However, there is far more to this ancient city than myth and legend.
The Nottingham Castle and Art Gallery sits proudly on a hill overlooking the surrounding area, and it boasts a bewildering array of tunnels and caves – as well as a huge selection of local artefacts and historical exhibits. Successive English Monarchs had owned the castle before it fell during the English Civil War. Other exciting attractions in Nottingham include The City of Caves, the Stunning Mortimer’s Hole and the Galleries of Justice – which is a ghoulish journey through the history of British justice.
Of course, there are several Robin Hood tours dotted around the city – many of which are operated by Ezekial Bone Tours. However, if you’re looking for liquid entertainment, Nottingham is home to some excellent watering holes. No visit to this great city should pass by without stopping by Ye Olde Trip to Jerusalem. The management claim that this pub – carved into the side of a spectacular cliff face – is the oldest in England. Other refreshment stops worth a visit include Ye Olde Salutation Inn and the famous World Service Restaurant set in the grounds of a beautiful 17th-century mansion.
House prices of houses for sale in Nottingham are slowly rising, but they are yet to hit the dizzying heights they reached in 2007. The next few years could see the value of your house in the city increase considerably, which is great news if you’re planning to sell. However, if a quick property sale is an absolute must then consider selling quickly with minimum of fuss, just call us today for a no-obligation chat.
If buying a property in Nottingham then check out the current bargains for sale!
