Shropshire estate agents report strong demand across region
Shropshire estate agents have provided encouraging updates on business in the first quarter, with valuation requests surging, a notable uplift in viewings and new sales agreed.
Russell Griffin, Director of Samuel Wood, with offices throughout Shropshire including the Telford Hub, said, in the first quarter of this year, the business had observed stable market command, primarily due to the interest rates stabilising towards the end of 2023.
"This has had a positive impact on the confidence levels of buyers and sellers in the housing market," he added. “One of our trusted sources of information, onthemarket.com, has reported that the confidence rating of the Shropshire and West Midlands housing market is currently just over 70 per cent.
"This indicates that people are increasingly happy about buying and selling their properties.
"At Samuel Wood, we have seen a substantial increase in demand across our Shropshire offices. The number of valuation requests has surged, and there has been a notable uplift in viewings and new sales agreed.
"It is worth mentioning that market confidence has always played a crucial role in the property sector. Traditionally, the months of May, June, and July are considered the prime time for increased activity levels, and despite a slight rise in interest rates, we encourage buyers to remain pragmatic and focus on securing the best mortgage deals when finding their perfect home.
"Our teams are dedicated to assisting in navigating the market and ensuring informed decisions are made with a long-term viewpoint."
Nick Berriman, Director of Berriman Eaton, which covers Shropshire, the Black Country and Staffordshire, added: “Our Tettenhall office experienced its busiest month of 2024 in April, with far more new instructions and sales agreed than we were initially expecting and this is definitely encouraging.
"Whilst the market is still quite price sensitive, there is clearly a demand. With a cut in interest rates predicted to happen in the future, we predict that the market will strengthen even further in coming months.”
And Caroline Eaton, Director of Berriman Eaton, added: “Our Bridgnorth office has experienced an exceptionally busy period in 2024 so far, surpassing our expectations with a substantial surge in new instructions and sales agreed.
"Despite ongoing sensitivity around pricing within the housing market, it’s clear from what we are seeing on the ground that demand remains exceptionally robust in Shropshire.”
