Diary of an Agent: Holly Sibley and Sam Sproston

Holly Sibley (HS) covers the Tunbridge Wells countryside market and Sam Sproston (SS) is office head in Wandsworth, London.

Tell me about the area.

HS - I cover Kent, East Sussex and a part of West Sussex. In Kent it’s typically more grade-II listed farmhouses and properties with outbuildings on offer. Sussex has more Victorian and Georgian property, but I deal with everything from detached homes to terraced houses and flats.

SS – It’s mostly a domestic market with Victorian houses and cottages. We see a lot of people come across the bridge from Fulham, where they might have a flat, and buy in Wandsworth. As you head out towards Wandsworth and Clapham Commons the houses get larger.

How did the third lockdown affect the market?

HS – We were manic up until December and then the new lockdown seemed to take the wind out of people’s sails. However, with the roadmap, the progress with vaccinations and arrival of spring, it’s given everyone a dose of positivity.

SS – People had to come to terms with home schooling and market valuation appraisals have been slow. January is not a great month for gardens and there was certainly an ‘everything will be better in another month’ attitude amongst sellers.

And what impact did lockdown have on buyers?

HS - Buyers have been more intense than they were six months ago, largely due to the shortage of property for sale. The latest lockdown delayed us and it’ll likely be closer to the end of April when we have the normal amount of stock on the market as a consequence. It’s meant multiple sealed bids in the first few months of the year and homes going for above the asking price, but this will soften as supply improves.

SS – Buyers remain price sensitive but if you are a seller you need to know that they are out there and you shouldn’t delay any longer. Supply of the largest houses remains limited and it’s led to strong competition. A £4m house recently sold within a day of going on the market at over the asking price.

What impact has the stamp duty extension had?

HS - It’s really helped the general market. There were a lot of owners that wanted to wait until April, May even June before listing their home for sale. It was not dissimilar to how people waited before Brexit. But it’s provided a kick and the buyers are there and ready.

SS – We’ve remained busy but if you’d asked me at the end of last year if the holiday had had any impact on the prime end of the market, I’d have said no. Yet we had a rush of five prime deals in a week, all with agreed completion dates of before the 31 March, the original stamp duty deadline. It’s helping support the whole market.

How has the pandemic changed buyers’ requirements?

HS - While we get plenty of London buyers, it’s the locals that have interested me. We’ve seen a number of people in Tunbridge Wells selling up their pretty period terraced houses to buy something further out with a few acres of outdoor space. They haven’t moved far, a maximum of ten miles, but it provides the balance between space and access to amenities and the train station.

SS - Lockdown has made people think ‘what are we living in and is it appropriate?’ Families want bigger houses with maybe office space and a bigger garden. Working from home has had a big impact, which will endure.

What do you think the lasting impact on the property market will be?

HS - It’s put Kent and East Sussex on the map. Traditionally, buyers leaving London have looked to Surrey or Sevenoaks in Kent. But many other areas have great schools and are still affordable. Etchingham, Burwash and Uckfield in East Sussex are all very popular for this reason. One buyer looking to retire sold up in Surrey last year and was amazed at what they could get for their money. In their case a lovely cottage in Stonegate with a large chunk of the sale proceeds into their bank account.

Photo by Marta Moya on Unsplash