News & Updates
London homes selling at asking price with Dress to Sell service.
August 2011
Dressed to sell houses in London are bucking the national trend and selling for, on average, 98 per cent of the asking price, leading to a trend for rental furniture being used to sell properties.
Based on statistics from 15 million pounds worth of homes sold throughout May and June 2011, properties dressed by leading furniture supplier David Phillips sold for on average 98 per cent of the vendors' asking price. Individual properties were valued from £250,000 to just over £2,000,000.
Nicholas Gill, David Phillips chairman, says: “London appears to be a market of its own, but it appears that sellers are in an incredibly strong position to push for their highest price. Selling a house is as much about selling a lifestyle as it is a property and the advantage of using rented furniture and interior designer is that you can play to the buyer's emotional attachment. For the properties we dressed to sell, the vendors invest just 0.25-0.5 per cent of the final sale price, so it is a highly cost effective option."
Reflecting these findings David Phillips reports that its rental furniture arm has seen business increase by 600 per cent in the last twelve months.
Of the properties sold in conjunction with David Phillips, around half involved private owners, ten per cent from developers, with the remainder being managed by agents.
Tim Jackson, Director, SecureASale, says "We have used rental furniture to sell a number of properties and would now never attempt a sale without calling in an interior design advisor from David Phillips and furnishing the property when taking it to market."
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