Properties in and around Sheffield continue to be highly sought after despite national reports of falling prices, according to one of the city’s leading agents.
Chris Thomson, Managing Director of Eadon, Lockwood and Riddle, a family-established estate agent with offices across Sheffield and Derbyshire, explained: “Despite recent news reports that property prices have stagnated throughout the UK evidence suggests that the market remains buoyant across South Yorkshire.
“The recent survey from the property data company Hometrack reported that house price growth had stalled for the first time in 19 months, with prices remaining unchanged in England and Wales during August and September; and a 0.1% fall in property prices within Greater London during the same period, which has generated some alarm among analysts.
“At Eadon, Lockwood and Riddle we have actually seen percentage increase in house prices over the course of the year, caused by a steadily improving demand, and a lack of supply in certain areas.
“Indeed, we are still seeing many of our homes receiving multiple bids and more properties are required for waiting proceedable buyers in areas throughout Sheffield. In addition, many correctly priced houses are selling a few weeks after they go on sale and this has even been the case for properties within the £500,000+ price bracket.
“This leads to explain that statistics for the first nine months of 2014 show a 22% increase in completed sales at ELR, which contributed to our decision to open our new branch on Oakbrook Road in August, to better cater for people in that area who are looking to buy, sell or rent.
“That all said, this is not a boom and bust scenario but rather a steady and sustainable growth: We are not about to see falls in house-prices, but we do believe that markets within our area will remain steady into December, easing off over the Christmas / New Year period before picking up again in the early part of 2015.”
“Inevitably at this time of year the property market does cool. Despite the seasonal trends we still expect people to continue purchasing properties up until mid-December. Home-owners should not feel that it is too late to consider marketing their properties. We are busier at ELR than we were 12 months ago, and our number of ‘under offer properties’ remains strong across our offices in Banner Cross, Dore and Nethergreen.
“Those hoping to market their homes within Sheffield can feel optimistic about their prospects and shouldn’t hesitate to contact an agent to get their property on the market ahead of Christmas.”