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Is it a Seller's Market?

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Mon 04 Jun 2018

Is it a Seller's Market?



In April and continuing throughout May, we have seen a surge in buyers registering with us at Charter Whyman. Many of these buyers have been disappointed by the lack of properties available across the market as a whole but have found the choice of good quality homes, available with ourselves, refreshing.







Market conditions are favouring the seller and we see this reflected in both the number of properties we are selling and the prices being achieved on behalf of our clients. At Charter Whyman we favour a pre fix on our asking price of “guide price” and this approach has proved very beneficial for our sellers, giving us the flexibility to achieve in excess of the guide price, where we have two or more buyers offering on a property.

Extract from: The National Association of Estate Agents, Housing Report.

 

The housing market has swung back in favour of property sellers, according to the latest data from estate agents.

NAEA Propertymark's Housing Report for April shows that the market is no longer favouring buyers after a strong start to the year.

April's rise in buyers, combined with a falling average supply among agents, is contributing towards restoring a seller’s market.

"[In March] our findings indicated that we were entering what looked like a buyer’s market, but the dial has swung back in the favour of sellers," says Mark Hayward, chief executive of NAEA Propertymark.

"With demand on the up, and the supply of available homes falling once again, buyers will find themselves facing stiff competition from other house-hunters." 

He says the market is now particularly difficult for first-time buyers, who will need to enter bidding wars with second and third-steppers.

"The government is working to improve the house buying and selling process, which is music to our ears, but until more homes are built and supply catches up with demand, the process will remain difficult,” says Hayward.

 

 

 

 

Source: The National Association of Estate Agents, Housing Report.