Member Article

Sheffield estate agent ELR reports 30% increase in like-for-like sales

Sheffield estate agent ELR has reported strong sales since the start of 2014 with an annual increase in the number of completed sales over 30% higher than the same period last year.

This figure was fuelled by returning market confidence and steady price increases, according to the firm.

Despite national reports of an 8% rise in house prices fuelling panic across the UK, Thomson says that, in reality, local figures including those in South Yorkshire are more realistically seeing increases of only around 3-5%.

Managing director, Chris Thomson said: “One of the reasons why the national figures are so high is that they are greatly influenced by the Greater London market, which does not reflect actual prices of local property.

“In fact, following the highs and lows of the past 8 years, the local housing market now seems to have settled down, with only small price increases being seen as well as a healthy increase in year on year sales – meaning home buyers are well placed to make the next step up the property ladder.”

“As a result of recent turbulent times, lenders are at liberty to make sure that the lending is affordable, and ‘responsible lending’ appears to be their mantra.

“That said, there are an increasing number of attractive mortgage deals available, not least Help to Buy, and this is giving buyers in South Yorkshire and other local markets the confidence to purchase homes in the upper price brackets. “

Eadon Lockwood and Riddle, an estate agents based in Sheffield and Derbyshire, say they are now seeing a surge of properties exceeding £500,000 on the market – with sales being agreed at least weekly on the higher end of the property ladder.

Throughout April and May they also saw an average sales price in excess of £350,000, far greater than the past few years, where they were averaging around £280,000.

ELR’s figures from January to April saw a year on year rise in completed sales of around 36%. Helped by a busy January and February ELR have since undergone internal expansion, resulting in recruitment, branch refurbishments and wider web coverage through national portals.

This was posted in Bdaily's Members' News section by Clare Burnett .