Reflecting on Three Years since the launch of McHugo Homes

A Review of the Harborne and Edgbaston Property Market

At McHugo Homes, we are proud to mark our three-year anniversary, having opened our doors to serve the communities of Harborne, Edgbaston, and surrounding areas. Over this period, the property market has seen significant shifts, from record-low interest rates and a stamp duty holiday to economic uncertainty driven by political and financial changes. In this blog, we review these past three years, analyze the local property market, and highlight how McHugo Homes has outperformed local competitors.

The Changing Property Landscape

Since McHugo Homes launched in September 2021, the housing market has faced numerous challenges. Record-low interest rates spurred a rush of buyers eager to capitalize on the stamp duty holiday, leading to a scarcity of available properties. Fast forward to today, there are 26.5% more properties on the market, but the playing field has changed dramatically—interest rates have risen, and inflation has reshaped the market.

One thing is clear: now, more than ever, choosing the right estate agent is critical. The increased supply of homes means buyers have more options, and sellers face stiffer competition. This dynamic has highlighted the importance of having an experienced agent who understands the local market.

How McHugo Homes Stands Out

Over the last three years, McHugo Homes has delivered results that speak for themselves. On average, we outperform others across several key metrics. Below are some noteworthy comparisons:

• McHugo Homes boasts a significantly higher exchange rate (63.83%) compared to the local average (46.95%), meaning our clients are more likely to successfully sell their property.
• We also have a notably lower fall-through rate (16.22%) compared to the market average of 30.26%, critical in a market where uncertainty can cause transactions to collapse.
• Perhaps one of the most significant achievements is that McHugo Homes clients move 43 days quicker than the average seller, completing their sale in 165 days versus 208 days.
• Additionally, we achieve a higher percentage of the asking price, with our clients receiving 98.82% compared to the 96.36% market average. This equates to an additional £8,708 on the sale of the average property—money that makes a tangible difference.

Why McHugo Homes Delivers Better Results

So, what sets McHugo Homes apart from the competition? It boils down to two key factors: experience and passion. With two decades of experience in the estate agency industry, Andy McHugo, the company owner, has developed a deep understanding of the property market in Harborne and Edgbaston. This expertise, combined with a genuine passion for helping people move home, forms the foundation of the success.

We may not be the largest agency in the area, but we focus on delivering exceptional results for each client. Our approach is personal and tailored, ensuring that every property is marketed to its full potential. And as the stats show, this approach leads to faster sales and higher offers.

A Look at Property Prices in Harborne and Edgbaston

In the three years since McHugo Homes opened, property prices in the area have risen by just over 13%, increasing from £312,762 to £354,017. This is a significant boost, especially considering the economic challenges the market has faced, including the infamous mini-budget and rising inflation.

Despite negative predictions during the economic upheavals, the property market has remained resilient. In fact, UK house prices are now 0.44% higher than they were at the peak of August 2022, largely due to inflation being brought under control and interest rates starting to decline.

Conclusion

As we celebrate our three-year anniversary, we look back with pride on our achievements in the Harborne and Edgbaston property market. McHugo Homes continues to deliver results that exceed expectations—helping clients sell their homes faster, achieve higher prices, and navigate a challenging market with confidence.

If you're considering selling your property or need expert advice on the local market, McHugo Homes is here to help. Contact us at movinghome@mchugohomes.co.uk or visit our website for a FREE, no-obligation market appraisal.

Here’s to many more years of serving the community and helping people move home successfully!