Since reopening the doors to Coleman Estates on May 14th 2020, we are thrilled to announce that despite the current pandemic, we are the best performing branch of Estate Agents in Telford for the first four weeks following lockdown for both sales and lets. During the first four weeks since reopening, our team has been rushed off their feet with properties being snapped up as quickly as we list them… there really has never been a better time to join the property market!
But don’t just take our word for it—here’s a quick summary of our success!
Our team has achieved an amazing 88% conversion rate for new listings, with 40 out of the 45 properties we valued choosing to instruct with Coleman Estates. We then managed to secure 26 sales totalling more than £5.2m worth of property. One of the properties received 3 offers above asking price within 24 hours while 7 others were sold at asking price.
We have also been encouraged by just how fast the property market is moving, with 10 of the properties we listed being sold within just 2 weeks. We have been listing and selling properties across all price brackets, from mid-range to higher-end properties, attracting an array of buyers, with noticeably high interest from first-time buyers and investors.
Meanwhile, our lettings team are also reporting great success. In just 20 days, we have secured 25 lets, and on multiple days we actually let 3 or 4 properties before close of business for the day. A number of properties have also been snapped up the very same day they were listed, and our success during these trying times is a testament to our status as the top-performing letting agent in Telford!
Despite the pandemic, the property market is showing signs than initially predicted, encouraging news for agents, sellers and buyers alike. According to statistics from Rightmove, the busiest day for the property market was May 27th 2020, which was actually up 18% from the previous year. They have also found that 28% of people entering the property market originally had no plans to do so before the lockdown was put in place.
“Over the past month, we have found ourselves extremely busy due to pent up demand, and although the press stirred up some doubt with negative headlines regarding the property market, confidence is already growing among sellers and agents,” says our Managing Director, Max Coleman.
“As for buyers, we have noticed that they are more concerned with moving to address their personal needs, such as growing family and schools, rather than the short-term dip that has been forecast in property prices amongst a myriad of negative forecasts from the press. Mortgage lending is now back at 85% loan-to-value (LTV) after being restricted as low as 60% LTV during lockdown, which is another sign of growing confidence. We’re hopeful that this will continue until the usual brief decline in December later this year.”
Despite everything that is currently going on in our society, now is actually a great time to enter the property market. Following the new protocols that we have put in place to ensure everyone’s safety, we continue to offer the same quality of expertise and customer service that earned us our status of Highly Rated by the Best Estate Agent Guide. If you want to take your next steps along the property ladder, then join Telford’s best estate agent today.
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