This weeks letter writing table...
As many buyers get ready for a summer holiday, whether it be in the UK or abroad, viewings across the board have slowed this week. This has left quite a good opportunity for those buyers that are still out viewing as competition may not be as fierce as it has been in previous weeks.
The number of vendors looking to list their property is continuing to rise and some agents have been back to back with valuations over the last week. With many buyers still waiting for the right property, this might give them the opportunity to commit to a purchase as more stock becomes available so we anticipate a high number of agreed sales over the coming weeks.
If you are looking to list your property you should either look to list as soon as possible, taking advantage of the buyers still looking.
Since the launch of our Guide: How to sell a retirement home, we have started picking up a good deal of business in this challenging market. Retirement homes can get stuck without sale for many years and so we have started relisting those who have got in touch with us.
A recent sale had a story like this:
"The flat had been on the market with the property developers own in-house sales team since November 2019. With lots of competition in the same development, and other developments close by, the sellers felt that developers own agency were too busy to give them the focus needed to achieve a sale. Movewise completed independent research and interviewed three local agents to analyse which would be the best agent to market the flat. Once selected, Movewise requested regular market updates from them so the sellers were kept regularly informed. After 7 weeks of marketing and no changes in price, the agent produced an acceptable offer from a keen and able buyer."
If you have any retirement homes that are struggling to sell do get in touch with us and we can suggest and contract the agents who are actually achieving sales in these in the local area.
Rightmove expects that the number of sales completed in the first six months of the year and due to be reported by HMRC later this week is on course to be around 800,000, which could just beat the previous record of 795,000 set in 2007.
The 2007 record was set under very different circumstances, at a time when mortgage lending criteria were much less stringent than in today’s more controlled market.
Rightmove’s analysis shows that a shortfall of 225,000 homes for sale comes from 140,000 more sales being agreed and 85,000 fewer new listings than the long-term (2014-2019) average for the first half of a year.
We’re down to half a team this week with a few of us away. Hope your view is as good as ours 👆 and you get to enjoy some sun.
Have a great week.
The Movewise Team