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The latest from Flick & Son with properties for sale and to let in Aldeburgh, Peasenhall, Southwold, Eastbridge, Chediston, Westleton, Blythburgh, Reydon and Saxmundham.
Christmas message
Flick & Son estate agents
A year-end look towards the horizon

As we near the end of 2015, there is much talk about how the residential property market performed this year and predictions of what might happen next year. Flick & Son is only part way into its financial year but in the seven months to the end of November the volume of properties coming up for sale with us increased by a mere 1.5% against the same period last year, whilst the average value of properties sold has risen by a whopping 10.76%, the average price per property now weighing in at £354,500.
 
At Flick & Son, we cover a raft of different property markets in our local area, from the high profile towns of Aldeburgh and Southwold to out of the way Suffolk hamlets, so a one statistic fits all attitude is generally to be avoided. However, our figures are remarkably similar to the national picture which continues to show substantial price rises in the face of little if any recovery in the number of properties coming up for sale. This very real shortage continues to be the principal factor influencing the very marked year-on-year growth in housing values.
 
Predictions for next year are for a more muted increase in values, the Royal Institution of Chartered Surveyors and others are saying they expect values to rise by about 5%. If this is to be correct, one of two things has to happen, demand has to fall or the stock of property available to buy has to rise significantly.
 
Stamp duty seems to be a prime influence to putting a brake on demand at the moment, the large hike for higher value properties last December aggravated by the 3% increase on the purchase of an additional property coming into effect from April does seem to have dampened demand for high value residences but this at the moment is very London-centric.
 
The high end market in London may really be reflecting falling commodity prices and the slowdown in the Chinese economy in particular rather than the stamp duty hike, but buyer activity and demand is on the wane for whatever reason. Pundits are expecting this to have a dampening effect on demand across a much wider sphere than just London.
 
Yields on buy-to-let will have to be recalculated when the stamp duty surcharge is applied to any purchases not completed by 1st April next year, as will the impact mortgage relief changes will have on this sector of the market which has underpinned residential property values for so long now. Maybe we will see demand for buy-to-let drop making more houses available to those at the start of the property ladder, but at an affordable price? Hardly at the moment, and less and less so if incomes remain relatively static whilst shortage of supply causes house prices to continue to rise.
 
Normally at this stage of a housing economic cycle, a national surge of new build homes creates sufficient new housing to right the imbalance of demand over supply.  For multiple reasons the national new build output has not caught up this time round, albeit locally there are early signs that new builds are beginning to come through in sufficient numbers to cause a slight reduction in demand in our market towns.
 
So, from our perspective, not only in dealing with property in a high demand area loved for its relative tranquillity in an increasingly congested world, but also with an eye to national and world wide influences on supply and demand, expect the RICS and their co-predictors to be too cautious in their projections for 2016.
 
Flick & Son estate agents
Experience and qualifications count

Much in the news this year is the number of letting agents who have been prosecuted for stealing client’s money or otherwise defrauding them. In a business governed by extensive but fragmented legislation, it remains an enigma as to why the Government does not require letting agents to both prove competency and be subject to external audit before being allowed to let and manage such a high value commodity as a house.  

Whilst letting agents must subscribe to a redress scheme, very surprisingly only about half the letting agents operating in the market today subscribe to self-regulation with trade bodies such as the Association of Residential Letting Agents (ARLA) and The National Association of Estate Agents (NAEA).

When the choice is between selecting one of the 50% of agents who are self-regulated as against one of the 50% who aren’t it is a constant surprise that 50% of letting agents remain in business!

Flick & Son is a member of ARLA and NAEA but we go one very large step further as our letting activities are regulated by the Royal Institution of Chartered Surveyors, a public interest body rather than a trade association and the gold standard of property professionalism. RICS membership puts Flick and Son at the very pinnacle of competency and ensures we are subject to rigorous auditing.
 
What is sure in 2016 is that a bunch of high street estate agents will continue to endeavour to compete with us, as likely will a proliferation of online agencies. Flick & Son will though continue its successful philosophy of providing a highly professional, focused, swift and friendly service through our well-staffed and very well used high street presence and our ability to act as trusted professional advisors, negotiators and often confidantes, is something we both value and take very seriously.
 
For these reasons, do please consider Flick & Son for proactive selling and letting advice and marketing. Nearly 200 years of history and high street presence really does count.

Our team will still be hard at work over much of the festive season, please see below for details of our opening hours.  Everyone at Flick & Son hopes you have a relaxing Christmas with best wishes to you for the New Year.

Peter Watson FRICS
Director
Flick & Son 

Featured properties this month

Aldeburgh

Aldeburgh  |  £725,000

A fine detached three bedroom house with large south facing garden, views over Aldeburgh marshes towards the River Alde, attached double garage and detached annexe studio with heating. EPC Rating E.
More details
Southwold

Southwold  |  £595,000

Brick and timber boarded cottage secluded & peaceful location in the heart of Southwold. Off street parking, two garages, planning permission granted for conversion to single garage & self contained apartment. EPC Rating F.
More details
Chediston

Chediston |  £595,000

A charming Grade II listed thatched Suffolk farmhouse dating from the 16th Century, set in approx two acres. Three bedrooms, three receptions, kitchen, playroom, two bath/showers, two large garages and parking.
More details
Peasenhall

Peasenhall  |  £329,500

A charming detached period thatched cottage with outstanding farmland views to the rear. Three bedrooms, two receptions, kitchen/breakfast room, three bath/showers (one en suite) and extensive gardens. EPC Rating E.
More details
Eastbridge

Eastbridge |  £465,000

A spacious extended detached bungalow occupying an elevated position in this sought after village. Three bedrooms, two receptions, kitchen/breakfast room, conservatory, two baths (one en suite), gardens & garage, EPC Rating D.
More details
Southwold

Southwold  |  £550,000

A pretty red brick half painted town cottage peacefully situated in the heart of Southwold. Three double bedrooms, one reception, living/dining kitchen, two courtyards, garage and parking. EPC Rating E.
More details

Christmas cheer!

Flick & Son estate agents
Congratulations to Mrs. Suzanne Bartlett from Framlingham who has won a case of Adnams champagne after being drawn at random from those who entered the competition alongside our recent Flick & Son survey.

Thank you to everyone who took part.  The results are very useful to help our understanding of what you want from our market-leading service.

Look out for more opportunities to win in this newsletter during 2016.

Featured properties this month

Westleton

Westleton  |  £515,000

A modern four bedroom, detached, chalet style bungalow located in the popular village of Westleton with established gardens and field views to the rear. EPC Rating C.  
More details
Blythburgh

Blythburgh  |  £795 pcm

Four bedroom semi with fantastic easterly river views. Lounge with wood burner, kitchen/diner, conservatory, ground floor shower room & family bathroom. Rear patio & garden. Driveway parking. EPC Rating E. (Tenants Admin Fees Apply)
More details
Reydon

Reydon |  £675 pcm

Modern two bedroom unfurnished detached home with spacious living accommodation, gardens & garage. Rural outlook. Sorry no smokers. EPC Rating E. (Tenants Admin Fees Apply)
More details
Aldeburgh

Aldeburgh  |  £360,000 L/H

A charming two storey maisonette with sea views in the very heart of Aldeburgh. Two bedrooms, living/dining room, kitchenette and bathroom. Close to all amenities. EPC Rating F.
More details
Aldeburgh

Aldeburgh  |  £750 pcm

Spacious two large double bedroom period town house in elevated position. Spacious sitting/dining room with open fireplace, two parking spaces. A short walk from the town centre and beach. EPC Rating D. (Tenants Admin Fees Apply)
More details
Saxmundham

Saxmundham  |  £400 pcm

One bedroom unfurnished first floor flat in good order throughout. Communal gardens and allocated parking.  EPC Rating C. No pets or smokers or children.  (Tenants Admin Fees Apply)
More details
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