The latest edition of the GSPC Property Guide appears today with a new advertisement. That might not sound that exciting, but this one contains an important nugget of property marketing truth that deserves much more attention than it gets.
The advertisement is based on the fact that, out of over 18,000 residential property sales in the G postcode (in the last year for which we have data), only eight were to people from Birmingham– a tiny number*. The same is true for other towns in England. Only seven people from Blackpool bought a house with a G postcode that year,Belfast had six, as did Manchester.
The single most important marketing fact if you are selling in west central Scotland is that almost everyone who buys property in this area comes from Scotland and 90% of this group lives within 40 miles of the home they buy.
The implications for property advertising are significant. For maximum effect, the main thrust of your advertising should be local – in media providing coverage within a 40 mile radius of your home. The next most important focus of your advertising should be Scotland as a whole.
Only once you are confident that you have those two bases covered, need you consider the tiny number of prospective buyers moving up from the south. In my experience, even this group is dominated by natives returning from a stint in the south and they are both familiar with, and happy to use, local media that they know advertises property for sale.
In that context, the apparent reach of the big UK property portals is relatively insignificant. They may have millions of visitors, but if those visitors aren’t interested in your home, they aren’t of any value to you.
So, when it comes deciding on the best advertising for your home, look for web sites with a strong local or regional presence first.
* Source: Registers of Scotland data