Wells estate agents hopes to sell to local buyers
- Credit: Nick Bird
A newly opened Wells estate agent said he would love to only sell to more local people - but fear that will not be a reality.
Nick Bird opened a new branch of Bailey Bird and Warren along Station Road in the coastal town and is in the process of letting his first property, a two-bedroom house.
The house, found in Bluebell Gardens in Wells, had plenty of enquires but Mr Bird was pleased that the successful applicant was a Wells resident.
Mr Bird is hoping that his presence in the town will allow him to secure his first house to sell, along with a new flat he hopes to have to let on the market in August.
He also hopes that he can sell those properties to people from Wells, but fears the demand and price of the desired homes will see many local people lose out.
“I think local people are going to find it difficult to find anything to buy, they do not earn enough to buy a property as the way prices in the town have gone, there is a lot of money coming from outside Wells,” he said.
“We would love to sell to locals, but, for example, we recently marketed a property in Walsingham.
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"We had 20 people who wanted to buy it, and invited 'best and final offers'. Although the owner wanted to sell to someone local, the four highest offers were all from people from away.”
Mr Bird is also surprised by the lack of available properties in the town. Despite or because of the cost of living crisis: “….people do seem to be holding onto their properties”.
“With the cost of living crisis, you do not know if people want to downsize or sell up, but there are no signs of that.
“There is still a big demand for properties but little stock, and that goes for rental as well.”
The Wells estate agents are currently training up a new member of staff to watch over the Wells office full time.
They are also throwing themselves into life in Wells, including taking part in the local carnival, sponsoring an award at the High School and sponsoring the town’s football club.
They are looking forward to securing more new properties for sale and to let in and around the Wells area in the coming weeks.