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Fall In Property Listed For Sale?

June 30th 2021
By: Intercounty
Fall In Property Listed For Sale?

We all know demand for homes is much bigger than the supply of property right now. This is shaping the market, and is a huge factor in rising prices.

If you are looking to sell your home, there is demand, and Intercounty can help you connect with willing buyers.

  • For the whole of the United Kingdom, there was a total of 79,426 new properties listed in April 2021. This compares with 94,294 in April 2019 and 110,031 in April 2016.

  • In the Greater London area, there was a total of 13,204 newly listed properties in April 2021. In April 2019, there were 9,783 and in April 2016, there were 13,832.

  • In the South East of England, there were 12,655 newly listed properties in April 2021 while there were 16,118 in April 2019. In April 2016, there were 16,427.

Are you looking to sell soon?

We know there are many reasons to move home, and it might be you have specific reasons for moving sooner rather than later. No matter what is driving your decisions, get in touch, and we’ll be happy to help.

Danny Luke, Quick Move Now's managing director, commented: “A shortage of properties coming onto the market has been a big challenge for the property market over the last year. The fewer properties coming to market, the more price growth we're going to see. Nationwide's House Price Index suggests that house prices grew by 7.3%in 2020. For comparison, in 2019 the annual price growth figure was 1.4% The level of growth we're seeing at the moment, brought about by high demand and low supply, is unnaturally high and, I would argue, simply not sustainable.”

Danny continued by saying; “The only region where we are seeing a greater number of properties coming to the market is Greater London, where we know demand has fallen over the last year as a result of the pandemic. Lower demand and greater supply have resulted in lowering property prices in the region. The property market is hugely unbalanced at the moment. We have unnaturally high demand at the lower end of the property market, created by the government's stamp duty holiday, but this demand is not being met by home sellers higher up the property ladder. First-time buyers and second-time buyers are keen to use the stamp duty holiday to move up the ladder, but those further up are displaying a great deal of caution.”

Danny concluded by saying; “If you're looking for a new property in the current market, your best bet is to make yourself as ready to proceed as possible. Ensure your finances are in order and you have a mortgage in principle. It's also worth considering that if you're able to make yourself a chain-free buyer it will make you more desirable to sellers. The current market conditions will not be sustainable for much longer, and I imagine we will see a significant re-balancing of the market once the stamp duty holiday ends.”

For all sales enquiries in Chelmsford, please feel free to call us on 01245 251442 or why not email us at chelmsford@intercounty.co.uk. With considerable experience in the local housing market, and free valuation services, we look forward to helping you make an informed decision in the Chelmsford property sector.