With the summer market now firmly behind us I can report that I have experienced strong demand across all sectors of the market, counterbalanced by limited supply.
The positive side of this type of market has meant that due to the lack of supply, vendors have faced little competition. The results are that many asking prices have been met or at the very least, sales have been achieved on average within 3% of the asking price.
In addition, with the ratio of buyers pursuing a property being in the vendors favour, I have not only been able to achieve sales within a very timely fashion, I have also been able to introduce buyers to my clients who are in the most favourable position for the client.
The lack of supply goes deeper. A long standing debate within the marketplace is whether one should go to market before finding a suitable property to buy, or find a suitable property to buy first. A lack of confidence to engage within the market has been the Achilles heel for many people who are in fact very keen to move house.
Those choosing to find a property before marketing their own are seldom able to secure a property and often miss out when they find that perfect house. Whilst this concern is still apparent we are starting to find that many clients, having lost out on securing a property once too often, are becoming more willing to market their own home first. This is great news as it will fuel the autumn market to come.
I remain positive about the market and would encourage anyone considering a move to get stuck in to the marketplace now.
Simon Dredge, Assistant Branch Manager
Hook Office 01256 764666 firstname.lastname@example.org