Who are you?
We are Home Counties: an independent agency in Potters Bar established by me, Richard Lowry. I’m passionate about property and have been involved in the sector for over 20 years; our forward thinking modern approach to selling and renting property has quickly establish us as one of the leading independents in the area by simply putting our customers at the heart of everything we do.
How long have you been trading?
We have been trading for 3 years and have successfully negotiated hundreds of sales over that period.
Why are you going into the auction market?
We can see a place in the market for the modern method of auction and, combined with technology, this sector is destined to grow. This will work great for some of our probate instructions in Potters Bar and Cuffley or the properties that have a development angle as these can attract multiple viewings and, whilst we may only transact circa a dozen a year, we want to give our vendors transparency, certainty and the best price and Lets Bid Property’s proposition does exactly that.
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Where do you see the property market moving in the next 5 years?
I think in general it will remain stagnant but you will see pockets of growth such as in my market of Potters Bar. I can see a further increase in activity as the Oyster Card system is moving to Potters Bar Station and we have been voted as one of the top 25 commuter towns in the UK. We’re attracting new people to the area every year as it’s only a 15 minute journey into Kings Cross. Combined with the excellent schools in Potters Bar such as Dame Alice Owens, it has all the right ingredients to continue its growth.
What advice would you give to Landlords or property investors in today’s market?
I have always said when you're buying a property for an investment you need to treat it exactly like that, as ultimately this is business and you need to make sure you investigate the area to see what planned investment is happening, make sure you have a good solicitor who does all the required legal checks. Affordability is also important as if you’re buying something that needs work, make sure you get quotes in for the work prior to buying as build costs have increased significantly over the last 18 months.
We are also seeing some buy-to-let investors exit the market. With interest relief being phased out some landlords who are highly leveraged will now be making losses; we had an example of this recently and we helped the landlord plan for the scenario in conjunction with his accountant and not only helped him sell some of his future loss making properties but replaced them with better income generating homes.
You can visit Home Counties Estate Agents website here
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