With So Many Houses for Sale in Wolverhampton, How Do You Make Your Property Sale Run Quickly and Smoothly?
Competing with hundreds of houses for sale in Wolverhampton requires a comprehensive approach to the marketing of your home. This guide to the local market should point you in the right direction.
Wolverhampton is a city located right at the heart of the West Midlands conurbation. The city has a population of around 250,000, which makes it the second largest component of the area, after Birmingham. At the last census, Wolverhampton was found to be the 12th largest city in the UK.
During the Dark Ages, Wolverhampton grew quickly as a market town specialising in the sale of wool. However, the local economy diversified greatly during the Industrial Revolution, when mining and steel production took centre stage. Of course, these heavy industries have mostly packed up and moved on now, but this modernising city has managed to become a major hub for the services and the aerospace industry in recent years.
Like many towns and cities in the UK, Wolverhampton has been forced to reinvent itself – particularly during the 20th century. Instead of large-scale manufacturing and mining, the vast majority of jobs are now created by the services sector. There are also two universities in the city that employ hundreds of staff between them. Major private employers in the area include Carillion, Tarmac, Wolverhampton and Dudley Breweries and Chubb Locks. Wolverhampton’s retail area is thriving and growing.
House prices in Wolverhampton fell away badly immediately after the now infamous banking crash of 2008, but there have been some definite signs of recovery recently. If you want to sell your house fast in Wolverhampton, however, you may need the expert property buying services of Flying Homes. We buy houses on behalf of investors and private buyers throughout Wolverhampton and the West Midlands. We can, therefore, get the ball rolling on the purchase of your home within a matter of days meaning you can cash in on your property without the need to deal with the uncertainty and stress of the open real estate market.
Seeing a realistic asking price is essential when there are hundreds of houses for sale in Wolverhampton
While some areas of the West Midlands had lower average home values in 2014 than at the height of the recession, Wolverhampton property values have risen slightly since 2009, according to a recent report in the Express & Star. Moreover, house price growth in the city accelerated during 2013 and 2014 coming at a time when houses in the likes of Kidderminster, Willenhall and Walsall sold for less in 2014 than they were in 2009. Despite the relative strength of the Wolverhampton housing market, it’s still important to remember that enormous challenges remain.
A complex combination of factors combine to set prices in a UK town or city, but estate agents and property buying specialists are usually able to gauge a home’s value by researching sold house prices in a particular area. While this is a great service to take advantage of, nothing is stopping you from conducting a little research of your own. Get onto the Zoopla website, enter your postcode into the online search tool, and start comparing the final sale prices of homes just like yours in Wolverhampton. You can also find a myriad of property transaction data via the Rightmove website, and the government’s house sale statistics are made available via The L and Registry web portal.
Marketing houses for sale in Wolverhampton
According to the Express and Star, property prices in the West Midlands as a whole are skyrocketing, but the house price growth recorded in the Wolverhampton area has been much more modest. A relatively high unemployment rate and weak consumer confidence are just two of the reasons for the city’s failure to keep up with its nearest neighbour Birmingham. If you want to make the best of a rather poor situation, a thorough marketing strategy is an absolute necessity.
Choosing the right person to take charge of the marketing process is crucial if you are going to sell your house quick in Wolverhampton. The relatively subdued nature of house price growth, coupled with lots of suspicion amongst local buyers, means going it alone and selling your home yourself is not a good idea unless you have the time and knowledge needed to maximise the final sale price. Marketing a home in such a competitive marketplace involves detailed property listings, professional photos, endless property viewings, tough negotiations on price, home staging strategies and the management of all the related legal issues. House prices in the city are rising slowly, so paying the cost of an estate agent in Wolverhampton could be a cost-effective move.
There are some things that even the top estate agents can’t promise, including the final sale price of your home, and how long the entire process will take. If you need to sell your house quickly in Wolverhampton, there is another option – Flying Homes. We may be able to buy your home in any condition for up to 100 percent of its market value. Unlike other property buying services, we never lower our initial offer at the last minute, and we always endeavour to complete house sales as quickly as possible which could be an invaluable service if you need to sell to stop a repossession or relocate for a new job.
Choosing the most profitable time of year to sell a house in Wolverhampton
Contrary to popular belief, it is incredibly difficult to predict the time of year at which spikes in demand for homes occur – particularly given the fact that the housing market in Wolverhampton is in a state of recovery. Estate agents used to be of the opinion that the number of serious buyers in the market for homes used to increase significantly during the weeks after Christmas and summer.
You should list your home for sale at a time that suits your personal circumstances, but that doesn’t mean you should totally disregard the way the seasons can affect the property selling process. The priorities and wish-lists of buyers change dramatically according to the time of year. So, by making the best use of gardens, light and space during the summer months, you should be able to attract some serious interest in your home. However, you may need to concentrate more on energy efficiency, warmth and seclusion during the dark and cold winter months. Tailoring your selling strategy according to the time of year should help you to sell your house in Wolverhampton quickly.
What factors are currently influencing house prices in Wolverhampton?
While property prices for houses for sale in Wolverhampton are rising, they are doing so relatively modestly. Unemployment in the area remains high, and that is having a direct impact on property values in and around the city. Some areas are performing particularly better than the city average, however. The likes of Tettenhall, Tettenhall Wood and Castlecroft are in high demand, which is driving up the average price of a home. Unfortunately, virtually every other area of the city is struggling with stagnant or slowly rising house prices.
Wolverhampton, part of the wider West Midlands property market, is subject to dozens of factors that can affect house prices. For instance, the overall health of the economy, disposable incomes and employment rates will often play the biggest roles in the setting of local property values. Other issues to be wary of when assessing the market value of your home include the quality of local schools, the proximity to public transport links and local crime rates. Although these factors are out of your control, it’s a good idea to be aware of them when it’s time to sell.
There are also some specific issues at play that influencing house prices in the city for many years to come. For example, a £139 million development in Wolverhampton involving homes, retail space and offices. The tired and dated streets of the city undergoing their biggest transformation in years, and a £10 million transport interchange too. These developments and others like them will ensure that house prices have a fighting chance of showing strong growth in the future.
Located in the heart of one of Europe’s industrial heartlands, Wolverhampton has a long and proud history of trade and manufacturing, reflected in some of the city’s tourist attractions. One of the leaders of the Industrial Revolution, Matthew Boulton, lived in the beautiful Soho House – about two miles from the Jewellery Quarter. One of the most prolific trades in Wolverhampton during the 18th and 19th centuries was jewellery production, and you can learn about the processes involved at the Museum of the Jewellery Quarter. If you’re a big fan of popular culture and music, a visit to St Paul’s Gallery is a must. Here, you will be able to peruse a huge collection of signed album covers from throughout the pop era.
The sheer range of things to do in Wolverhampton and this part of the West Midlands is astonishing. You can take a tour of the famous home of Aston Villa Football Club, or absorb the splendour of local artworks at the Royal Birmingham Society of Artists, which is only a few miles away. You can learn about life in this famous part of England at the Black Country Museum, or wander around Moseley Old Hall – where Charles II is purported to have hidden during the Bloody Battle of Worcester.
House prices in Wolverhampton are still some way off their 2007 peak. However, they are rising steadily, and the next few years could be exciting for homeowners in the city. However, if a quick sale is a must, we might be able to buy your house in a matter of days. Call one of our experienced advisors to get the ball rolling on a no-obligation property valuation.