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Bishop's Stortford Opportunity For Vendors

March 22nd 2021
By: Intercounty
Bishop's Stortford Opportunity For Vendors

At Intercounty, we are invested in you, and helping you make the most informed decision in the housing market.

We know these are challenging times, but if you are looking to make a move in 2021, we can help you. There is an argument that demand for homes will drop in 2021. There is continued uncertainty in the economy, and with the stamp duty driving activity last year, there might not be the same desire for property moves this year.

However, there will always be people looking to move, and if you are a homeowner who is contemplating selling your home, we can facilitate this process. You might be surprised at the opportunity provided by the drop of supply in the housing market.

New instructions have fallen in 2021

Information provided by Home.co.uk indicates less than three-quarters of new instructions materialised in January. This is a record low for the supply of property in England and Wales.

Drops in supply are evident in Wales, Scotland, and in all English regions apart from Greater London. The main focus on the London housing market has been on people leaving the area, and moving to more rural settings.

There are moves taking place in the capital, particularly from Inner London to Outer London, but people are keen to sell. Therefore, there is a notable supply of homes in London that isn’t present anywhere else.

We can help you connect with buyers

Of course, with demand outstripping supply, there is an incentive for homeowners who are keen to sell. If you are looking to sell, we can help you connect with buyers. With the right standard of listing and promotion, we can help you connect with buyers, and achieve a better outcome.

While the current property market is facing a unique set of challenges, a lack of supply is not a new matter in the UK property market.

In August 2019, The UK Collaborative Centre for Housing Evidence published a guide called “Tackling the UK housing crisis: is supply the answer?”

It states, in its introduction; “In 2016 the House of Lords Select Committee on Economic Affairs report Building more homes argued that “[Too] few homes have been built over [recent decades]. House prices and rents in some parts of England have risen sharply.” The government’s 2017 housing white paper was even more stark: “The housing market in this country is broken, and the cause is very simple: for too long, we haven’t built enough homes.”

Then Communities Secretary, Sajid Javid, hammered the message home: “Soaring prices and rising rents caused by a shortage of the right homes in the right places has slammed the door of the housing market in the face of a whole generation.”

At Intercounty, we are here to assist you as best we can. We are local specialists in the Bishop’s Stortford housing market, and if you are keen to connect with likely buyers, we can assist you.

For property sector enquiries in Bishop’s Stortford, please feel free to call us on 01279 757250 or why not email us at bishopsstortford@intercounty.co.uk. With considerable experience in the local market, and free valuation services, we look forward to helping you move.