Writing this blog in December, I cannot help but admit that it has been a challenging year, but with some real highlights as well. It’s been a year of wars, economic shocks, and uncertainty. However, thanks to some good old-fashioned estate agency skills that I have crafted over my 30 years in this business, I have found once again that experience really does count, especially in the market we are in.

This past twelve months have still been successful in many areas. Notably sales on lovely homes in Wodeland Avenue, Sandfield Terrace, and Station Road in Shalford that all bucked the trend early in the year. As the spring came, my run of success for my clients in Charlotteville continued with several sales in Addison Road. My town centre focus remained throughout the year, with one highlight being three sales in Cline Road, two being a pair of semis under the same ownership, having once been one dwelling. Both homes went to first time buyers with new babies a few weeks apart. I have also dealt with a handful of executor sales around the town that have taken careful nurturing as the lead time for probate being granted is now at 16 weeks and can be longer.

Generally, I have sold whatever I have listed this year, however the key difference in 2023 has been fewer enquires overall and a longer selling period. In these times, my straightforward, unique, independent, and personal approach works best, as I conduct the viewings myself and I know everything there is to know about my properties and each unique situation of my clients. With my vast Guildford experience it is evident, especially to buyers, that I know the market, I know the properties and I know my clients, which makes a negotiation and sale so much easier.

I have maintained my 100% 5-star Google rating from my clients that both sell and buy, which I am extremely proud of. It clearly demonstrates that I am delivering what I promise.

So, what have I seen in the last quarter of 2023

There is continued and noticeable increased buyer activity in the GU2 7, GU2 4 postcode areas because of the popularity of Guildford County School. Four-bedroom homes in this location are highly sought after with several buyers chasing the last few I have dealt with. A four-bedroom house in The Crossways, Onslow Village is now under offer with me after a short spell of marketing and a high level of enquiries.
The heavily extended and modernised town centre Victorians that I often deal with have been low in numbers this year. I am not entirely sure why this is, but I suspect it is down to these sellers cautiously looking at their current mortgage deals and the low supply of homes to buy for the next step up. I expect this to change in 2024.

To summarise, the last quarter has mainly been trying to get deals over the line for clients before the year end, many of which have been under offer since the summer. These slightly extended transactions in chains have been a common theme this year compared to the ‘drop everything and buy’ market we had post Covid. You could say it has gone back normal, almost.

Looking ahead to 2024

My predictions are not always 100% accurate but having worked in the town since 1999 I can spot the trends and signs that change is coming. It is not going to be a quick recovery to the days of 2021/22, but I do believe that this past year has been the short sharp shock that many anticipated.

I believe we may be close to a turning point with buyers who have been sitting on the fence jumping back to the market once we see new homes arrive in the new year. The key though will be the asking prices that need to reflect the 12 months we have just had. Ignoring recent history will only result in being back in the same cycle we have seen this year.

The important bit

To summarise, I am confident about the year ahead. Those that value realistically and don’t try to bargain too hard will be successful in moving home. If it’s the right house for you, that you can afford, then it is my advice to think long term. Annual 10% increases or more are not normal and only come about a handful of times in a lifetime of property ownership. Property is first and foremost a home to live in and not always a nuclear investment that increases in value quickly. Of course, increases will come and so will decreases, it is like the tide of the sea going in and out.

Finally

I am currently dealing with several clients bringing their homes to the market in January 2024. If you are considering a move next year, I would love to speak with you to discuss your plans. Equally if you are just curious to know the value of your home or have any property related questions, please get in touch.