First-time buyers increase thanks to realistic pricing
First-time buyers are increasing because vendors are being more realistic with house prices, says Tom. The energetic and passionate Coleford branch manager at Steve Gooch Estate Agents has just celebrated his 27th birthday and is now hoping August's success will carry into autumn.
"Some times August is quiet but this year it could be our best month ever.
"We have found vendors in the last year or so have been more realistic and asking prices are key in this market.
"It took a while for people to understand it (pricing) is all relative and people have come to realise that now.
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"There have been more first-time buyers in the last couple of months that have come through, which is pleasing.
"Hopefully that can continue. I think there have been more first-time buyers because people have been realistic."
He added houses at £150,000 to £200,000 were selling before, but not so much to first-time buyers. They were being sold for buy-to-lets and to other types of investors instead, he said.
Tom's office covers Coleford and most areas within a 20 mile radius, apart from where locations cross over into the patch of one of the agency's three other county branches.
Each branch has around 130 properties on its books and Tom's prides itself on having a wide variety. They can range from flats priced under £50,000 to homes worth around £600,000.
Tom believes sellers can now get more for their money and that prices will remain stable for some time to come.
"There has definitely been an increase in sales and people putting properties on the market.
"I think the market will remain static for a while. Where it has been a lot busier – with house prices – because of more activity, you can push them a bit higher.
"On a house at £250,000 you can now push this up to £265,000 to £270,000 and still get interest in it, where as before you couldn't."
Tom puts his branch's recent success down to extended opening hours and marketing. He believes people thinking about putting their home on the market should do so now before November, when people start to settle down for Christmas.
Steve Gooch Estate Agents also has offices in Newent, Mitcheldean and Tuffley.