Stock levels have surged since the reopening of the property market in May and whilst the rate of listing growth (new listings) is slowing, stock levels are at all time highs.
London has seen a +47% level in stock available for sale since May 2020 whilst the rest of the UK has seen +18%.
One particular agent we spoke to said that he had taken on 39 instructions in one month. A record high in his 12 year agency career in the city.
This means for London property sellers the available choice for buyers has never been higher. Sales are happening, so if you are not getting interest and are already using two of the best agents in your area it is likely because you are not attractively priced versus what is available in your area.
If this is the case we recommend thorough research on what is selling and why you are not and take that into consideration in your pricing.
Movewise is more than happy to run custom stock reports on your local area and price bracket. We'll show you comparables that are selling in your area so you can consider versus your current price level. Get in touch with us on 02034094350 or here for more information.
Now that people are starting to come back from holiday (navigated that challenge!) and once they’ve got the children back to school, they are starting or resuming their search for a property with vigour so viewings are on an upward trend.
Have a great Sunday.
The Movewise Team