Despite a period of change for this Manchester suburb’s high street, the Didsbury property market is going from strength to strength, explains Philip James Kennedy director Rob Kennedy.
Things are changing on the Didsbury high street. First it seemed like the long-established Evans fishmongers was closing down – before it announced a triumphant reopening. Then Nick Brimelow – an estate agent some regard as one of the best of his generation – decided to call it a day. Never have I experienced such high street chaos in the 20 years since I emigrated to Didsbury village from Hale.
However, despite the local turmoil the stubbornly reliable Didsbury property market continues unabated – buzzing with buyers and sellers alike. In fact, since losing such a relevant agent as Nick Brimelow, Philip James Kennedy has experienced an increases in both buyer enquiries and new property instructions. To deal with this boom, the agency has taken a series of steps to deal with the additional business.
Expanding the team
Our Didsbury and West Didsbury offices have welcomed five new negotiators, including the much coveted Josh Parrott – creating by far the largest sales team on the high street with a total of 35 negotiators. We have also recently upgraded our bespoke estate agency software and refurbished both offices – giving us the most stylish spaces to market our clients’ properties. Furthermore, in July we will be installing brand new bespoke halo window displays to make our clients properties stand out from the crowd.
This year could be the most successful yet
Following the revamp, the latest Rightmove figures prove that our commitment to investing in Philip James employees and innovative marketing means 2017 will be our most successful in 15 years of trading.
Since April 1 in the M20 postcode, Philip James has been instructed on 31 per cent of all new properties listed, against the second placed agent on 12 per cent, and 29 per cent of all sales agreed, against the second-placed agent on 13 per cent.
Many Didsbury clients only want to sell once they’ve found a property they’re interested in buying. Because of this, Philip James Kennedy is three times more likely to introduce a suitable property for you to buy than any other agent. Similarly, in having more properties to sell we will arguably have three times more registered buyers giving you direct access to far more buyers than any of our high street colleagues.
Marketing the best
Marketing the best properties of course attracts Didsbury’s most sought-after buyers. This can cause a snowball effect to occur as anyone unsuccessful on one offer will then offer on the next suitable property that we list.
This has led to 21 per cent of our instructions generating multiple offers, sometimes well in excess of both the asking price and our clients’ expectations.
Understanding our clients
Some less-established agents are advising the seller to set a very competitive asking price – in order to generate a bidding war – which sounds wonderfully enticing on a presentation.
That said, our market research has told us that buyers would rather pay a fair price than take part in engineered bidding war, which often ends up with an underwhelming result.
With the market performing so well, Philip James Kennedy has seen an increased demand for its discreet marketing service, whereby individual properties are not necessarily marketed using for sale boards or internet. The service focuses on direct calls to buyers on our database or who are known to our negotiators. Many of these buyers may not be registered with other agents but would consider moving if we introduced a suitable property. The last two sales that were more than £1 million individually were sold in this way and met with our clients wishes, while also selling in excess of other agents valuations. With our market-leading position, Philip James is the only agent who can currently offer this service and our clients have been pleased to be given the inside track.
St James Park
The landmark Didsbury development by PJ Livesy has continued to perform strongly with phases one and two all sold – and a long waiting list for the release of the eagerly anticipated phase three.
So far, the prices achieved on the site have has a positive effect on the existing stock at the prestigious end of the Didsbury market, with Victorian semis and detached properties now looking more reasonable than before.
Once the development is complete it will bring many new residents to the village, which will bring a real boost in trade for local independent shops and restaurants. All this will be fantastic for residents, homeowners and business owners alike.
If you’re interested in registering for this service contact the team on 0161 4481234 or email Rob directly on rob.kennedy@ philipjames.co.uk to make an appointment for a free valuation and property advice.