Nathan Emerson is a Partner at award winning estate agents Pygott & Crone. They were established in 1991 and quickly came to be the highest selling agent within the rural county of Lincolnshire.
They were awarded Best Estate Agent in the UK in 2014 by The Times and Sunday Times Awards and also the 600 agency strong Relocation Agency Network.
Lincolnshire is an undiscovered gem located in the East Midlands and is one of the UK’s largest counties covering some 2,600 square miles. Its traditional economy has always been predominantly agricultural with supporting industries such as engineering.
The relatively low wage economy ensured it had a low cost housing stock which has created a vibrant sales volume environment. The economy is changing with ongoing developments and we are seeing a considerable increase in service industry related income. The establishment of Lincoln University has brought considerable investment into the economy over the past decade and with ever improving road and rail access, Lincolnshire is set to continue to grow in terms of national relevance and economic output.
The average sale price in the county currently sits at £160,000 and activity has continued to be strong in both the run up to the election and afterwards. With the ongoing combination of low interest rates, increased job security with low unemployment and an improved cost of living to income ratio, I believe both the sales and rental market within the county are set for another positive year. The overall average prices raised between 5% and 10% last year depending upon location within the county and rental increases were in the region of 7% to 10%.
Looking to the future, if we continue a stable national economy, the result for all agents to achieve additional growth and profitability will come on the back of increased customer focus and diversification into additional areas of practice within the industry.
Through our national Relocation Agent Network connections, we have received positive reports from agents in all sectors of the UK and this leads me to believe we have a period of realistic growth ahead. Pressure on fees and services offered within our competitive industry will always be present. It is the agents who evolve which will continue to thrive in their chosen marketplaces.
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