PUBLISHED: 11:29 02 October 2014 | UPDATED: 11:29 02 October 2014
WEL speaks to Peter Roffey, managing director of Roffeys Residential, about property hot spots and gets his expert view on the current property market
How long have you been managing director at Roffeys Residential and why did you want to get into the property sector?
I founded my company in 1988 having worked previously in the estate agency business from 1979. Before then, I was involved with various projects after leaving secondary school in Loughton, but remained unsure as to my most suitable career path until landing my first job as a junior negotiator with a local independent estate agency. My boss at that time taught me well and I have remained truly hooked on this business ever since.
You have recently celebrated 25 years in business, that’s a massive achievement isn’t it?
Yes, I feel it is considering the vagaries of the property market and general economy during the past quarter of a century. In my opinion, anyone who has successfully run a small business throughout the whole of this term is well-deserving of a hearty pat on the back.
Tell us more about Roffeys Residential and what services do you offer your clients?
My wife Katina and I are co-directors of the company which employs a team of 11, comprising sales and lettings consultants, property managers, and administrators. Most of our team have been with us for well over a decade and we provide a range of services including letting and property management, residential sales, together with our Premier Homes division for top end properties which I personally head. We also offer residential conveyancing and financial services, along with our buy-to-let investment advice department.
What areas do you cover in Essex?
Our offices are centrally located in Loughton and Waltham Abbey and we successfully operate throughout the towns and villages of West Essex, extending into East Hertfordshire.
Which locations are most in demand at the moment and why?
All locations are currently in demand but some more than others. These local hot-spots are consistently achieving premium prices and I am always happy to discuss opportunities with prospective clients.
What is the typical buyer for you?
We tend not to look at buyers as being ‘typical’ as all buyers are individuals and their requirements vary. We deal with a large range of buyers such as business persons, city professionals, families, sports people, developers, investors and first-time buyers.
How do you support your clients?
Clients want to be kept informed every step of the way and transactions have to be expertly nurtured in order to achieve completion within their agreed time-frame. This is what we excel at and together with our due diligence checks on buyers and tenants, our skills and expertise in these areas are some of the reasons why our clients can look forward to stress-free transactions.
What has been the peak in the market and are there any particular trends you can comment upon?
As I see it there are three property markets; prime central London, the south-east of England and everywhere else. The indications are that the prime central London market has already peaked and trends there usually ripple out into the suburbs, so I would expect to see a slowing down in the rate of property price inflation in this area over the coming months. What happens in 2015 is open to speculation, but I suspect the market will be determined, as usual, by supply and demand.
Any tips or advice you can offer first-time buyers?
Most certainly. With more stringent lending criteria in place owing to the Mortgage Market Review (MMR) regime, it is essential that they have as large a deposit as possible. They should also have in place a mortgage agreement in principle, underwritten by their chosen lender, before embarking on viewing properties.
Anything else you would like to add?
Simply a call to action; if you want to move or let your property, proceed without delay!
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