What does the supply-demand imbalance mean for you?

11th September 2021

Vendors have benefited from the supply-demand imbalance seen across the market in 2021, with 40% of properties selling above their original asking price, making conditions optimal for selling.*

What makes conditions optimal this autumn?

1) Low stock

Due to the pandemic, many people were put off selling their homes whilst the construction of new build properties came to a halt, causing a dip in housing stock.

This means that the homes currently on the market are being snapped up faster, with serious buyers putting offers in much sooner than they otherwise might have done.

2) Increased demand

With UK restrictions easing, buyers are now competing for properties, with 36% of homes attracting offers from three or more buyers.*

Many who originally put off moving due to the pandemic are now looking to relocate, causing a huge increase in demand and sparking bidding wars between buyers.

3) Mortgage rates

With the number of available UK mortgages on the rise, lenders are competing to attract more customers with low-interest rates and low-deposit mortgages, giving buyers more choice than ever when it comes to choosing the correct financial option for them.

Need a helping hand selling your home? Get in touch with our team today.

*Property Reporter and Which?

Request a free valuation

Get started…

Other Recent Articles

29th October 2024

Thinking of Buying or Selling a Haunted House? Here’s What You Need to Know!

Halloween is upon us, and while we’re all in the spirit of ghosts and ghouls, you might be considering buying or selling a property with a bit of a spooky reputation. Maybe that charming Victorian home with a south-facing garden, high ceilings, period features, and perfect attic conversion potential has more to it than meets the eye.

23rd October 2024

What Does “Offers In Excess Of” Mean? Understanding Property Jargon with JW Woods

Buying or selling a property is an exciting journey, but the jargon along the way can be confusing. One common phrase you might come across is “offers in excess of” (OIEO). What does this actually mean, and how does it affect your buying or selling strategy?

15th October 2024

Buying a House with a Partner: What You Need to Know

Taking the step to buy a house with a partner is exciting and marks a significant milestone in your relationship. Whether you’re pooling your finances to get on the property ladder or planning for a long-term home together, it’s important to make sure that everything is set up correctly—both legally and financially—to avoid complications down the line.