Demand outperforming supply in Farnborough

September 16, 2021

Whilst demand is outperforming supply in all of our branch locations, Farnborough has been named by Rightmove as one of the country’s hotspots.

Farnborough is listed amongst 10 other towns nationwide, where the number of buyers actively looking for a new home is dramatically outweighing current stock availability, named as a “supply shortage hotspot".

Rightmove identified the biggest changes in the number of homes being marked sold subject to contract and the number of new sellers putting their homes up for sale in July 2021, compared to July last year.

In Farnborough, there has been a 54% drop in the number of new sellers joining the market compared to the same period last year. However, the number of sales agreed has risen by 45% from the same period last year, presenting a real opportunity for anyone looking to sell.

Property prices have also risen in the town.

It’s clear that this is great news for any homeowners in the area, looking to get the most value from their sale. 

Our Farnborough Branch Manager has commented on the recent Rightmove statement…

“The lack of stock is still evident, resulting in properties receiving high numbers of viewing requests, but prospective buyers are still selective, so my advice to my clients is that they still need to be mindful of falling into the “overpricing" temptation, resulting in receiving too many viewings yet no offers. 

On Saturday, we had two properties with around nine viewings each, one of these resulted in no offers, whilst the other resulted in two offers. This goes to show that buyers are still searching for value, a property won’t simply sell at “any" price.

With such fast-moving market conditions, I would recommend speaking with an agent to fully understand the current, realistic value of your home, how you can easily move from one home to the next without scrambling to find your perfect home, and use your agent’s experience to navigate these interesting times in property.

We’re actively achieving sales for our clients, and helping buyers find their new home, so whilst stock is limited, it’s a great time to achieve a sale at a great price with buyers who are motivated."

For more advice on moving in and around Farnborough, reach out to our expert team on (01252) 375999, or email farnborough@mackenziesmith.co.uk.

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