Robert Reed, Head of Wright Marshall’s Tarporley office, has made a guest appearance on BBC Breakfast News this week, talking to Steph McGovern about the issues surrounding the supply and demand for housing in the UK and how this is affecting market time.
As one of the region’s leading estate agents, Robert is becoming one of the BBC’s go-to property experts. Most recently he offered his thoughts on Rightmove’s latest figures which stated that it takes an average of seventy-two days to sell a property in the UK, but with huge regional variations – which Robert advised was due to issues surrounding supply.
Robert discussed that local factors such as employment opportunities, school ratings and house hunters being priced out lead to variations in properties’ time on the market, but a lower level of available properties is the main driving factor.
The property expert went on to explain that, “The issue of supply is particularly prevalent on the first time buyer market too. The changes to the stamp duty legislation is great as it takes the pressure off a first time buyer’s budget but the bigger issue is supply, and that will take years to fix.”
Robert advised that first time buyers need a variety of homes to be supplied by property developers: “The new housing developments up and down the country are great, but it does not solve our first time buyer problem. They could in fact benefit from starter homes such as two bed terraces, as opposed to a four bedroom detached new build.”
With more than 13 years of experience, Robert is increasingly called upon by media organisations such as the BBC to offer expert advice and insight into all matters relating to property from residential sales, valuations, auctions and tenders through to planning and development as well as land and agricultural sales.
With a network of estate agents across Cheshire and Derbyshire, Wright Marshall offers a complete range of property services from residential sales, valuations, auctions and tenders through to planning and development as well as land and agricultural sales. The company has served the community for more than 150 years across all price ranges and developed a reputation for being a trusted, professional and quality operator.
