Throughout the local property market in Hook and North Hampshire, the current lack of supply is still a major concern for purchasers. The ongoing trend in supply and demand has been apparent for a large portion of the year but interestingly it does offer a perfect opportunity for those who wish to sell their property.
Put simply, there is lack of competition from other sellers and this major factor enables me to achieve the very best price for my clients. In contrast, it is still important to note that whilst we are achieving impressive values, the market is still price sensitive to a point. Pitched too highly and a property will remain overlooked by buyers.
With the National media reporting today that for the first time this year the housing market has experienced a cooler period during our hot summer months, accurate valuation advice is becoming even more critical.
I have always taken great care and pride in providing accurate advice to my clients regarding values. In this market the correct price is even more vital. When I launch a property to the market at the correct value, albeit still at a premium, demand is incredibly strong and sales are agreed incredibly quickly, mainly at the asking price.
On the contrary, where a property is listed marginally too high this trend does not follow. This can often leave the seller with little choice but to negotiate with buyers and often over a longer period of time, more often than not returning back to the originally advised price in the long run.
With the UK economy gaining confidence slowly, I suspect these market trends won’t change dramatically anytime soon and are set to continue into the autumn and winter. Therefore I am advising all prospective clients to act now and take advantage a good selling market in order to expedite a move before year end.
Simon Dredge, Asistant Branch Manager
Mackenzie Smith Estate Agents Hook office: 01256 764666 firstname.lastname@example.org