Why a continued supply shortage of property means now is prime time to sell
- 3rd July 2018
- Selling Property News
Figures showing shrinking stock of homes for sale suggest it is a seller’s market
Many people considering moving up the property ladder often ask us: when is the optimum time to sell? Of course, that differs due to personal circumstances, the state of the market, the time of year, which means a one-size-fits-all answer is difficult to come by.
But current conditions are creating a very favourable environment for sellers right now. Market dynamics look positive. There is currently a shrinking supply of homes for sale, with figures showing that available stock levels are down by an average of 4.3% compared to a year ago. That makes it increasingly a seller’s market, as more buyers chase fewer available properties.
That’s not the only reason. We’re about to hit peak summer buying season, as the good weather tempts more house-buyers out ahead of the holidays. This is the time when a little summer sun helps present properties at their best, helping prospective buyers imagine themselves relaxing there.
And with the “Bank of Mum and Dad” continually to grow as a trend, giving first-time buyers a helping hand, that all-important first link in the chain is in place, so that transactions can get underway.
Stephen Ludlow, Chairman at ludlowthompson, says: “Sellers are likely to find themselves in a good position now that there is limited competition out there in the market.”
“To ensure they get good numbers of prospective buyers coming through the door, and that they can achieve the right price, they need an agent with the right mix of local and online presence. The right agent will know the market well and will partner with the best platforms.”
“It’s also important that they can get feedback straight away so that opportunities don’t get missed. This is a prime reason why clients like our “Myaccount” service which gives them real-time information on viewings.”
Here is a selection of happy customers of ludlowthompson via Google Reviews:
Kirsty and her team were superb throughout the sale of our property in Oval. Professional, supportive and efficient and I would definitely recommend this estate agent to friends and family. Thank you Kirsty and to your team for making this sale!
- Katharina Woodhouse on Google
We had several agents round to value our property but Gerard from ludlowthompson really stood out, he seemed to have a much better understanding of the local market. He's kept in contact throughout and we'll definitely be using him when we do come to sell.
- Andrew Jordan on Google
Sellers are likely to find themselves in a good position now that there is limited competition out there in the market
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