Autumn housing market update
15 October 2015
Autumn housing market update
It’s a competitive world out there and none more so at the moment than when you’re house-hunting. The general trend has been positive over the last two years with stable levels of instructions coming to the market to a great extent satisfying demand.
But with increased buyer confidence and the economy maintaining a strong footing, there are more buyers than sellers. By the age-old laws of supply and demand, that results in more people chasing fewer properties and more competition for the properties with are on the market. If you’re buying, you need to be in the position to proceed early to beat the other applicants to the finish line.
Sealed bids and offers over asking prices are not unknown in the current market, making it difficult to secure a home you’ve set your heart on. The imbalance of high demand and insufficient supply means the number of transactions being agreed is slightly lower than at the same time last year and at the same time, it’s putting upward pressure on prices.
The latest figures from the Land Registry, which record actual sale prices, indicate that property in the South East has increased by 7.6% in the last year with an average price £254,658, the highest in the country second only to London which increased annually by 6.5% with an average price of almost double that of the South East at £493,026. London figures are heavily skewed by the super prime market but even so, a property in the capital doesn’t come cheap. Which makes moving out even more attractive to Londoners wanting to escape to the countryside but still be within easy reach for work or friends.
We exhibit each year at the Move To The Country show and will be at the London Boat Show once again after Christmas but this time, it’s new instructions we are after to satisfy the increased demand for everything from coastal apartments or pretty Downland cottages to dream homes in Arundel, Chichester, Horsham and the areas between.
Henry Adams may have been perceived as expensive because of our widespread marketing but when you talk to us, you’ll find we’re surprisingly affordable. But providing great value selling options hasn’t been at the expense of our services, which includes promoting property both online through portals, websites and social media, and offline in plenty of upmarket print publications like this one you’re reading now. Getting your property seen by more potential buyers is our goal and we follow up with professional negotiation before seeing your sale right through to exchange. We are literally here on the high street, with you every step of the way.
And whether the market is strong, challenging or vacillating between the two, if you are thinking of selling this year, ask for a free market appraisal backed by sound evidence of sales of properties similar to your own and talk through how you could benefit from selling within the current market.