Properties over £1,000,000 is the market back?


In recent times there has been quite a lot of debate amongst property professionals as to whether the wide use of guide prices in excess of £1,000,000 in the run up to the market crash in 2007/2008 was ever justified.  

We are now only really finding out what properties are actually worth and it is the top end of the market that was particularly affected when considering not only where values had got to in reality but, then added onto this, the issue of potentially inflated guide prices with vendors simply trying to make the most of the positive state of the market at that time.  There were undoubtedly, in my opinion, transactions that took place that might be classed as even being in excess of market value, although that is of course another debate as of course if a property has transacted that itself becomes evidence!

During 2015 we have now seen transactions at this level taking place.  One particularly high profile property was a listed premises in the Hoghton area, to the South East of Preston, where after a good spell of early interest the property exchanged contracts very close to the actual guide price within a period of only seven calendar days from acceptance of the offer.

A superb and stunning opportunity, occupying an elevated and very private plot set between Mawdesley and Parbold went under offer to the first viewer at guide price within two weeks of launch.

Marketing at these levels requires some very specialist marketing techniques.  Armitstead Barnett are able to utilise all of these to ensure that your property has the best possible chance of sale and has the most exposure into such specialist markets.

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