As we enter the last few weeks of the stamp duty holiday it is interesting that we have had a much quieter week this week with many solicitors, agents and vendors taking advantage of the ability to visit family and friends over half term. Having seen a high number of listings ready to come onto the market at the beginning of June, valuations seem to have slowed, so perhaps those looking to sell are now waiting to list post 30th June.
Average daily listings have now dropped to the lowest level of 2021, suggesting that the initial post-lockdown surge in activity is now fading away.
If you are looking to list your property and are keen to sell, consider marketing sooner rather than later. Having been stuck at home for well over a year now we envisage that many buyers will have their minds on other things over the summer holidays so you may only have a good 4 week period of marketing before the summer lull. If you are in no rush to sell, September may be a good time to consider listing as we usually see good levels of buyers coming back to the market, looking to purchase a property pre Christmas.
As new listings slow, so the level of stock on the market continues to decline. This tightness in the market is continuing to push transaction prices higher.
House prices rose at the fastest pace in nearly seven years last month. The annual rate of growth was 10.9 per cent and took the average price of a home to a record £242,832, according to the Nationwide building society’s latest house price index. (The Times).
For those already under offer keep the pressure on solicitors, you need to make sure your agent is on top of your sale and that you are quick to provide your solicitor with anything they require from you. If you come up against obstacles, talk to your solicitor about ways around them. There is very little that should be a ‘deal breaker’ and most issues can be resolved with some sensible suggestions.
This week we released the most sophisticated estate agent identification tool on the market. Provide your address and price and our tech will go into our database which collects over a million points a day, to analyse agent activity in your area and price range, giving you the top three performers for your property.
Let us know what you think:
Movewise Best Agent tool
As a remote business we have a weekly social on a Friday. This week it was themed "Charades!" - thank you Joe. We thought we’d share a video clip with you. Of course charades is terrible for Zoom video because its the silent bit. However meet some of the team and see if you can imagine what Rob (content) is acting out for his charade: “My Big Fat Greek Wedding”. Enjoy the giggles!
Have a great week.
The Movewise Team