21 Apr Why this spring is a great time to sell
At the risk of tempting in the bad weather, spring is traditionally a really good time to sell your home, but this spring might be the best EVER time to sell. At this moment the demand for homes is outstripping the supply of new homes to market by record-breaking levels; this means that there is huge competition for homes.
The average asking price of homes across the UK also hit a new record-high in March and as more people look to move, the prices are being driven up by increased demand.
If you are looking to sell your property or move to the area, take some time to browse our properties for sale in Virginia Water and the surrounding areas. If you have any questions, you can also visit our award-winning website or call us on 01344 843000 and email us.
So, if you’re looking to sell, now could be the best time to do so, let’s take a look at why.
In March this year, the average asking prices across the UK rose by £5,760, taking the national average to a record-high £354,564 which is the largest rise recorded at this time of year since March 2004.
Many experts were expecting the property market to dip in the wake of the pandemic and the cessation of the Stamp Duty holiday, but what has actually happened has shocked everyone. The market is more competitive than ever, with buyers engaging in bidding wars in order to secure their dream home. So, if you thought you missed out on the Covid property boom in 2020/2021, now might be an even better time to get your home on the market and secure a great price from an enthusiastic buyer pool.
With the buyer to seller ratio at almost 2:1, we are seeing the biggest imbalance ever recorded. This means that if you have a home to sell, you will likely receive offers from multiple parties interested in buying your home.
Having to choose between a number of buyers can be both a blessing and a curse. You will need to work with your estate agent to help decide which buyer is best for you and your situation; remember, the biggest offer isn’t always the best offer.
At the moment 20% of sales are being agreed within the first week of a home being listed on the property portals. This is double the rates recorded pre-covid, further reinforcing that supply and demand imbalance.
This puts sellers in a great position to secure an offer before viewing other properties; many sellers are not allowing people without offers to view homes in an effort to avoid wasting time.
Great news for sellers, but what about buyers?
Generally, if you’re selling a property, it means you’re looking to buy a new one. This means that you will feel the flipside of the sellers’ market which benefitted you when accepting your offer. The good news is that more and more people are jumping on this wave and so more and more properties are coming to market; redressing the balance.
It is still quite likely that you’ll still be competing for properties with other buyers. However, with new home criteria changing due to more flexible working conditions, some people are selling in commuter areas and looking elsewhere in order to get more for their money.
Get in Touch
It’s a buoyant market and if ever the was a time to sell, if you are thinking of selling your property or looking to buy in the area, make sure you take a look at our amazing catalogue of properties for sale in Virginia Water and the surrounding areas.
If you’d like to speak to someone about properties to let in Virginia Water, a member of our expert team would be happy to help. You can call us on 01344 843000 or email us. You can also follow us on Facebook, Twitter, Instagram, and LinkedIn.