As the weather tends to the more wintery, and we resort to our December onesies and a soothing medicinal beverage, it seems appropriate to reflect on a busy, challenging and rewarding 2023. It’s been a dynamic 12 months, much of which is down to our many great vendors, home buyers, landlords and tenants: the entire Robb Residential team want to thank all our clients for their custom this year, it’s greatly appreciated.
In the calendar year to date, we’ve sold £35m worth of property and achieved an average yield increase of 12.9% on lettings, with both sectors still very much in the news: sales have been defined by a mixture of inflation and mortgage rates, along with demand easily outstripping supply; and lettings have continued to witness a lack of stock resulting in incredible buoyancy on rental rates.
Cost of living issues persist, and sadly whilst the war in Ukraine continues, matters in the Middle East have dominated recent front pages. But with zero growth reported by the ONS in the UK for the last three months, and no change in the interest rates at the last Bank of England meeting, we’re hoping that as inflation continues to ease (see the very latest here), so will further assaults on lending. All that said, demand continues to lead supply, and Nationwide reported an increase in house prices of for October.
The results? Property opportunities continue to exist and arise – some vendors may have to sell as a result of life changes and career progression; others may move to limit their mortgage exposure, for example. Robb Residential are here to help and guide our clients through all aspects of these transactions.
It’s in these times that experienced, professional property experts are best placed to be your estate agents of choice. Focus falls on sophisticated, high-quality marketing, hard graft and then clever, skilful and intelligent negotiating with both vendor and purchaser to agree the right deal for all. Many new entrants to modern-day estate agency will never have worked in a more challenged market.
If you are considering a sale, Robb Residential offer a complimentary pre-sale consultation to provide you with a carefully considered valuation together with tailored strategic advice, specific to your home, your location and the current market. Our style and bespoke advice recognise contemporary, high-quality estate agency for your home is not a one size fits all solution.
Let’s address some key questions in today’s marketplace.
How is the residential sales market performing?
Despite economic turbulence and higher interest rates the West of Scotland residential market has shown remarkable resilience. Demand continues to exceed supply, as evidenced by house price increases of late, fuelled by hybrid and remote working and the desire to move out of cities and conurbations post-pandemic
Is my home likely to sell?
With demand outstripping supply, and with our careful management and national and international market distribution, vendors are very well positioned. Accurate valuations are crucial when selling your home at the best possible price
What are our predictions for the local market in short to medium term?
We predict capital values will continue to see modest growth as we head through Q4 2023 right into Q2 2024. The West of Scotland micro market is influenced by southern-based buyer demand, those who appreciate the value gap and that remote working permits living in areas of outstanding and natural scenic beauty.
What should I do now to initiate the process?
Contact any member of our team, we will be delighted to arrange, in confidence, a complimentary pre-sale consultation at your home. Please contact us via our online form, email or call on 0141 225 3880.
Vendors of homes in 2024 can be assured that since 1979 the team at Robb Residential have experienced all kinds of market conditions. With our proactive marketing and a managed national database of buyers (whilst many modern-day agents rely entirely on the internet), and full follow-up calls to all interested parties to establish and encourage viewings then offers, we take pride in sitting at the heart of every successful transaction. When properties take longer to sell, we tenaciously and diligently unpick the reasons, create a picture of market response, and offer our vendors pro-active and effective remedial advice.
In the coming year we’ll be as committed as ever to delivering the same professional, high-quality and tailored services across Sales and Lettings. This includes over Christmas and New Year. At Robb Residential we are all looking forward to some downtime with family and friends, kicking back and enjoying some Festive fun, and we’re busy planning more Christmas shopping, and taste-testing of various mulled wines and mince pies. Thank you again to all our clients for allowing us to be your estate agent of choice in 2023.
Happy Christmas and Best Wishes for a prosperous 2024 from all the team at Robb Residential, and please note the changes in our hours for the forthcoming holiday period:
Our Festive and New Year Office Hours
- Closed 13:00 Friday 22nd December, re-opening 09:00 Wednesday 27th December
- Closed 13:00 Friday 29th December, re-opening 09:00 Wednesday 3rd January.
Robb Residential are an Estate Agent based in Glasgow who deal in a range of unique and beautiful properties in the middle-to-prime market in Scotland. For more information, please contact us, email or call on 0141 225 3880.
Note: statistics, percentages and references are correct at the time of writing.