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.
You May Also Enjoy
Clarity on energy efficiency rules for commercial property needed
English Housing Survey 2024 to 2025
Propertymark responds to latest HMRC property transactions report
Mortgage activity dips in December
£19.9bn of PRS refurbishment required
