Selling a Home in the Face of Competition from Hundreds of Houses for Sale in Torquay
There can be several hundred homes for sale in Torquay and the surrounding areas at any moment in time, so you need to be competitive with your initial asking price and comprehensive in your approach to marketing. The guidance and tips in this guide to the local property market should help you to do both in search of a quick house sale in the town.
The rate of house price growth in Torquay has been nothing short of exceptional during the last few years. Regeneration projects and the search for affordable seaside properties has made Torquay something of a property hotspot in South West England. But the memories of house price falls in 2008 and 2009 are still fresh in the memory of many local people.
If you need to sell a house fast in Torquay, you might need to look for alternatives to the traditional way of the sale of a home in the UK – which is where Flying Homes can help. We purchase homes on behalf of investors all over the UK avoiding the open property market altogether and secure the sale of your home in a fraction of the time it usually takes. We pay up to 100 percent of market value for properties in any condition, and we never go back on an initial offer we make at the last minute of the process.
Why you should set a competitive asking price when house selling in Torquay
Home prices in Torquay are rising, and the average price of a house in Torbay and South Devon is amongst the most expensive in the country. Recent growth has made the region something of a property hotspot in the UK, which is why this is an excellent time to sell a house in the area. According to a 2014 article on the Torquay Herald Express website, home prices in the region are expected to soar to record levels between 2014 and 2019. If you are about to sell your house in Torquay, this is great news, but you shouldn’t take a fast and profitable sale for granted. After the turmoil caused by the Credit Crunch, buyers are still wary of paying over the odds for residential property. If you are determined to garner as much interest in your home as possible, you will need to set an initial asking price that is competitive for houses like yours in your particular locality.
The maximum asking price for your area very much depends on recently sold home prices. Find out what people are willing to pay for houses in your street, and you will have an idea of where your initial asking price should sit. However, set it too high, and you might struggle to generate the interest required – and attract people to property viewings. To determine what your asking price should be, research into sold house prices is essential. This important work will usually be carried out by an estate agent or a professional home buying service such as Flying Homes, but you can do it yourself using some extensive resources and online tools. For instance, sold house prices for Torquay can be found on the Rightmove website, and entering your postcode on the Zoopla website will enable you to access property transaction data for your street in Torquay. The government publishes official house sales statistics on The Land Registry website.
Adopt a comprehensive approach to marketing when selling houses in Torquay
Despite rising property prices in Torquay, it seems that the number of buyers on the market has fallen in recent months. According to data on the Home website, the time houses in Torquay spent on the market in September 2015 was up five percent in September 2014. Indeed, there was a massive fall in demand for terraced houses in Torquay during that period. In September 2014, houses in the town were spending an average of 123 days on the market before being sold. However, those same houses were spending 173 days on the market a year later – a 41 percent rise. In these challenging conditions, a comprehensive marketing strategy is essential.
Although you can sell your house without an estate agent, it is not advisable given the unpredictable nature of demand for homes in Torquay. If you need to sell a home quick in Torquay, your best option on the open market is probably to enlist the services of an estate agent in Torquay. While expensive, an agent brings a selection of different attributes to the table, including time, local knowledge, negotiating skills, contacts and technical expertise. These attributes have the potential to add value to your home, which makes the cost of hiring an agent well worth it in many cases. In such an unpredictable market, you should only sell a house privately if you have the time, contacts and knowledge required.
Flying Homes are experts in buying houses quickly in Torquay so sell yours fast today. Whether you are trying to avoid essential repairs, attempting to stop the bank repossessing your home or moving for a new job, selling your property to Flying Homes could save you both time and money. We buy houses on behalf of wealthy investors throughout the UK. We can process some transactions in just a week or two – and for up to 100 percent of their market value. We have a proven track record of paying between 90 and 94 percent of market value, and we pride ourselves on never reneging on a formal valuation at the last minute of the process – something less reputable homebuyers have been doing in recent years.
Is there a profitable time to sell a house in Torquay?
The simple answer to this question is no; no particular time of year is linked to increased home prices. While demand can spike during certain months, predicting what these months will be is an almost impossible task. Property sales in Torquay during the year to August 2015 peaked in October, but there is every chance that the peak could occur during different months in the future. Only if you know of a particular infrastructure development or regeneration plan scheduled for the coming months should you delay the sale of your home on the grounds of achieving a higher sale price?
If you want to use the season to your advantage, you can make some subtle seasonal changes to colour schemes, layout and features in your home. These changes won’t have a direct impact on the market value of your home, but they should increase its appeal. For instance, in the summer, take the time to maintain your gardens and outdoor areas. In the winter, however, concentrate your efforts on creating warm and inviting ambiences, as well as making the most of the energy efficiency measures.
What external factors increase house prices in Torquay?
Torquay is a large town, and it contains several different neighbourhoods that could be experiencing house price growth to varying degrees. Before you start to make the major home selling decisions, you should find out what has been happening to property values in your street recently. House price growth can fluctuate substantially from area to area in a UK town or city, and researching sold house prices on the likes of Zoopla and Rightmove will ensure you don’t miss out on hidden value in your property.
There can be many issues with the potential to positively influence the prices of houses for sale in Torquay, and only knowing about them could be the key to extracting extra value from your home. For instance, a school in the area that regularly features in the upper echelons of OFSTED league tables will undoubtedly persuade some buyers with children to offer a premium for a nearby home. Crime levels also have a limited effect on nearby house prices. Among the many influencing issues that are unique to Torquay include the Torquay Harbour Area Action Plan.
The town of Torquay located on the Devonshire coast in the South West of England. Part of the unitary authority area of Torbay, this lovely seaside town is just 18 miles from the city of Exeter and around 28 miles from Plymouth. Torquay is the most populous area of Torbay, with a population of around 65,000.
Torquay grew up around the fishing industry, but it wasn’t until the 19th century that it started to become popular as a seaside holiday resort. As beautiful buildings and marinas began to pop up along the town’s coastline, it began to earn the nickname ‘the English Riviera’. Unfortunately, the city’s tourism industry started to wane during the 20th century, but it has made something of a comeback in recent years.
The struggling tourist trade resulted in an unemployment rate far more than the national average in 2001. A lot of local people at the Pontin’s holiday camp lost their jobs when the site was sold off. The local economy is dominated by the service sector, with tourism still playing a significant role in the creation of employment.
Things to do in Torquay
Torquaydesignated as a Global Geopark in 2007, has many beautiful areas of natural beauty to explore, as well as some exciting activities such as diving, kayaking, fishing and coasteering. If you’re looking for something a little more relaxing, spend a few hours soaking up the sun on the beach. You can explore a myriad of marine and birdlife at the Living Coasts attraction. Or you can view the stunning Devonshire coast by air on the HiFlyer helium balloon. Explore old homes carved out by early humans of the Stone Age at Kents Cavern, or enjoy more recent activities along the sea front – which is home to amusement arcades, cafes and restaurants. And if you’re a fan of literature, make sure you take the time to explore the Agatha Christie mile, which charts the early life of one of Britain’s most famous modern authors.
Prices of houses for sale in Torquay have been rising steadily for several months now, but this is no guarantee of a speedy and profitable sale. If you need to sell a house quickly in Torquay, you might benefit from the home buying service operated by Flying Homes. Call us today to discuss your home selling requirements and to arrange your no-obligation valuation, sell your house fast to Flying Homes!