When it comes to going to the property market, it is vital that you enter the market with confidence.
You need assistance from an estate agent who knows the local market well, and who is familiar with what is happening in the national market.
At Intercounty, we are more than equipped to assist you with these matters, and if you are looking to go to market with confidence, we are more than happy to help.
A study undertaken by MoveStreets highlights the following points:
The average asking price on major property portals stands at £296,950
The average sales price stands at £258,464
This means there is a gap of 13% or £38,486 when it comes to asking prices versus sales prices
Regional variations exist when it comes to overpricing
As you would expect, there is a bigger gap in London!
The average asking price stands at £833,944
The average sales price is £494,673
This is a difference of 41%, or £339,321
Other gaps across the country are as follows:
The South West, there is a difference of 24% between asking price and sales price
The South East features a difference of 23% between asking and sales price
In the East Midlands, there is a gap of 21% between the asking and sales price
For the North East, the gap between asking and sales price is 21%
In the West Midlands and the North West, there is a gap of 20% between the asking and sales price
Adam Kamani, CEO and Co-Founder of MoveStreets, commented: “We’ve seen an incredibly hot market of late and despite the end of the stamp duty holiday, high levels of buyer demand and low levels of available stock continue to see properties fly off the shelf at pace and for a very good price. However, it’s clear that even in current conditions, many sellers are listing their homes at an over-optimistic price point, no doubt in an attempt to take advantage of the market boom.”
Adam Kamani concluded by saying; “This can be detrimental to your sale regardless of how the market is performing and can result in months of little to no interest in your home. It’s the responsibility of the listing agent to guide sellers and set these expectations. While some will value a home at a higher price point to win business, a difference of ten to hundreds of thousand pounds above market value is perhaps a little too far.”
According to Rightmove, house prices in Sawbridgeworth, as of November 2021, are as follows;
“Properties in Sawbridgeworth had an overall average price of £409,441 over the last year.
The majority of sales in Sawbridgeworth during the last year were semi-detached properties, selling for an average price of £445,815. Terraced properties sold for an average of £352,988, with flats fetching £239,414.
Overall, sold prices in Sawbridgeworth over the last year were 9% down on the previous year and 1% up on the 2017 peak of £403,821.”
For property enquiries in Sawbridgeworth, please feel free to call us on 01279 600333 or why not email us at email@example.com. With considerable experience in the local market, and free valuation services, we look forward to helping you move.