One month in and a trend emerges.

Buscadom was launched on the 29th of February and we have seen a steady pick up of our new portal offering during the last month. Agencies are appreciative of our ‘on the ground’ approach and whilst some still want to wait and see how we do over the coming months in what is a ferociously competitive portal market, all the agencies who signed up have received leads and are out viewing properties with clients as i write this.

The trend we are seeing as we drill into the analytics of our site is that ‘average price’ really means nothing on the Costa Blanca. The average price is said to be in the region of €300,000, and whilst that is the mathematical average we have found that the interest on our portal is still for those properties that come in the bargain range, around €100,000.

Whilst everyone dreams of the white villa in the sun with a private pool, the amount of these properties selling in the first quarter of this year really pales into insignificance next to the amount of two bed apartments changing hands for less than €100k.

The news for buyers is good, there is a steady flow of these properties becoming available as the bank continue to relinquish their stock, the pre-crash buyers look to recoup some of their investments and as mortgages become available from some Spanish banks.

The news for agents is mixed, they might have to sell more to keep the cash coming in as the real ‘average’ will pay out less commission so volume of sales is going to need to be higher.

Market news creeping out of the industry is that prices are increasing and sales are flowing, whilst this is true to a certain dgree we must be wise enough to look past the headline news and ensure that we understand that ‘average’ is just a statistic and an increase after years of decreases is not something to sing about too loudly.

Check out our ‘average’ priced property in Javea, Moraira and Altea.

 

Alex Evans

You May Also Enjoy

Breaking News

Breaking Property News – 28/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   tlyfe the tenant App gets huge marketing boost from national team tour from the Openbrix team As many will know tlyfe, powered by OpenBrix, is the UK’s most innovative tenant lifecycle app, taking the stress out of the move in process and helping to…
Read More
Breaking News

Over Four Out Of Five Tenants Unaware Of The Renters Reform Bill

OVER four out of five tenants remain unaware of the Renters (Reform) Bill and its contents, according to new research. The data comes from a representative survey of over 2,000 private renters conducted by the TDS Charitable Foundation, which works to advance education about housing rights and obligations in the private rented sector. The Bill…
Read More
Estate Agent Talk

What is Property Damage in a Personal Injury Case?

Property damage refers to any damage that affects things instead of a person. This might include damage to your car, house, etc. As such, it is not regarded as a personal injury case. However, when an individual is injured when the accident occurs, the affected person can file a personal injury claim. A typical example…
Read More
Love or Hate Rightmove
Breaking News

Rightmove comment on new 99% first-time buyer mortgage product

Matt Smith, Rightmove’s mortgage expert said: “It’s encouraging to see lenders continuing to try to innovate in the mortgage market, even after the government abandoned its own plans to encourage lower deposit mortgages in the Spring Budget. This new product has the potential to help some first-time buyers who fit the affordability criteria, but are struggling…
Read More
Breaking News

Breaking Property News – 27/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Coadjute ahead of the game as they are already licensed to provide digital TA6 Forms to property stakeholders This week, the Law Society announced its TA6 Form will now include Material Information as per the the National Trading Standards Estate and Letting Agency Team…
Read More
Breaking News

Breaking Property News – 26/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sharing Success: The Guild Conference and Awards celebrate Member achievements The QEII Centre in Westminster, London, was abuzz with excitement on Friday, 22 March 2024, as The Guild of Property Professionals hosted its highly anticipated annual Guild Conference and Awards. Under the theme ‘Sharing…
Read More