There’s been a 14% increase in houses coming to the market in recent weeks as sellers look to capitalise on record asking prices.* This is a blessing for the hordes of eager buyers struggling against low supply. But what effect will this trend have on you?
If you’re a buyer who has been frustrated in your search for your dream home, your fortunes may soon change. Valuation requests peaked at the end of June, reflecting the levels seen in May 2021, so the perfect property may arrive on the market imminently.
Although it’s unlikely that house prices will fall any time soon, buyers may still benefit from the reduced competition when making offers.
On the other hand, sellers remain well placed to secure a fast sale while achieving their asking price. Yes, the number of sales has begun to return to pre-COVID levels, but demand is still strong enough that you could find a buyer within a mere 32 days.
If you’re selling to buy a new home, the boisterous market conditions mean you should consider listing your current property before you start your search. Hedging your bets by waiting until you find ‘the one’ could mean losing out to buyers who can place a serious offer before you’ve even chosen an estate agent to sell your home.
Still not sure whether it’s time to move? Getting an up-to-date valuation for your property will give you the information you need to make an informed decision.
Contact us to book a valuation or register your details today. You can also visit our website to browse our current range of properties – with more expected to arrive soon!
*Data from a recent analysis by property portal Rightmove.
