Market Update | September 2021
Somehow, we’re almost three quarters of the way through 2021 and what a roller-coaster of a year it’s been for the property market!
The first half of the year was supercharged by the Stamp Duty deadline which really picked up momentum with levels of buyer activity way beyond what was anticipated.
The deadline itself resulted in unprecedented numbers of exchanges as solicitors and agents alike all jostled to ensure their buyers and sellers didn’t miss out.
The extension of the deadline to September took much of the pressure off with a large number of the buyers, that weren’t able to hit the June deadline, continuing with their purchases. Many took the view that, if they were to withdraw, they could end up paying more for the same property later.
Why? Well, quite simply, the shortage of available houses has had a significant impact on house price inflation with sellers very much in the driving seat.
Our own records show that in Q2 we achieved selling prices at or above the asking price on over a third of our sales which shows the balance in terms of supply and demand and is an endorsement that a great marketing proposition (such as ours!) definitely adds value to your sale price.
There is an irony here as many sellers are holding back putting their home on the market, hesitant due to a lack of choices out there, but, if everyone took this approach, there would be nothing coming onto the market!
So, we’re encouraging anybody thinking that they might move in the near future to get themselves ready to go on the market.
By being prepared and speaking with us early, you’re putting yourself on the inside track, ready to act quickly when your ideal home comes on the market.
At Pittis we have some truly innovative ways to help you to move forwards, so give your local office a call to find out more.
Until next month,
Group Managing Director