Penarth View article - April 2014

Green Shoots

With many positive press stories in recent months regarding the property market in Wales and the rest of the UK, it would be easy to think that things are moving forward apace and prices are skyrocketing, with available houses at a premium and the number of applicants far outweighing supply. Although the market has been excellent in Penarth of late, it is certainly not the time to start panicking, and wondering whether you will ever find the right property to purchase. For buyers and sellers alike, the level of uncertainty over the housing market and the economy in general have provided doubts as to whether to enter the market. These doubts seem to have eased recently and with the outlook altogether sunnier, activity levels have risen. It is fair to say that the right house at the right price will sell well, but some properties find themselves in more difficult price ranges, or targeting more niche groups of purchasers and these can still prove difficult. Of course, prospective purchasers are still advised to be open-minded and think outside the box when looking at places to buy, while vendors are encouraged to be realistic on the price that they are asking. Is it a buyer’s market or a seller’s market? Depends entirely on the house!


Investments

Bricks and Mortar have always been considered a safe place to invest your money. Whether it is hard earned savings or part of a pension fund, a good solid return that you can cash in when needed appeal to a wide range of people. Things are no different these days and with the best ISAs only returning 2% to 3%, and uncertainty over the future of pensions, many people are still looking to invest their future in property. You don’t need to be a property magnate in order to make the right choice, and Penarth has plenty of ideal investments just waiting for the right buyer. These can be flats or houses, and can need lots of work or be ready to move a tenant straight into. Whatever you are looking for, it is important to identify the type of property you require before going any further. Whether you like quaint period charm, or the efficiency of more modern builds, try not to look based purely on personal preference. Consider the kind of investor you are and pick a property that matches your financial needs rather than property preference.


Beside the seaside

As Estate Agents, we’re very lucky to work in such a great town, with more and more fantastic local businesses to go with some excellent scenery. As residents of Penarth, we all benefit a great deal from the town, and must ensure that we continue to use it to its full potential. We meet a great deal of people moving into the area for an array of reasons, but they all want the same thing, to live in Penarth.  They say that you never fully appreciate what’s on your own door step, but make sure you do this summer. Get outside and enjoy all Penarth has to offer, if nothing else, it helps to retain and improve the price of your property!