Who would have thought it!
April trading showed a house market defying the doom and gloom peddled in the Media since last year, defying the odds and performing better than expected given the backdrop of the UK economy.
House Buyers Positivity
There are hints of the attitudes that house buyers displayed back in the Covid days, when the house market took off because people wanted to get on with their life’s ambitions determined not to let the disruption of the pandemic get in the way.
Today, the attitude of house buyers seems to be one of pursuing their house buying goals, negotiating cautiously but importantly being decisive and not waiting for the next piece of economic news to impact on their focused approach to house buying.
April Showers Didn’t Dampened April Sales
Take these examples of a properties going to the market, achieving excellent interest in today’s market, and finding perfect outcomes.
North Warnborough, Hampshire – This character 2 bedroom property was put to the open market in April at a guide of £675,000 and the marketing generated multiple buyer interest, resulting in a sale being agreed 5% above the guide price.
In the Blue Triangle area of Fleet Hampshire, this traditional property hot spot has seen several house sale agreed in April, provide excellent examples of a fast moving market.
During the first week of marketing at a guide of £1,250,000 the buyer response to the property below was excellent, resulting in five viewings in a matter of days and a sale agreed shortly thereafter.
Also in the Blue Triangle area of Fleet and nearer the top end of the market, the property below was sold (stc) to a cash buyer in April on a guide of £1,675,000.
And yet again in the Blue Triangle in Fleet, the property below went to market at a £1,100,000 guide and was snapped up with 24 hours.
The country and equestrian market is also on the move, as per the example below. This fine house in Finchampstead went under offer in April on a guide of £2,250,000.
These properties provide excellent examples of a house market still very much on the move!
In our area of operation on the Hampshire / Berkshire borders, house prices have held up well with some sectors only slightly lower compared to a year ago. Fears of a major downturn in prices are overdone and with levels of supply improving house sales are being agreed at an increasing rate. This is supported by the fact that our first quarters trading results show a 6.75 increase on the house sales front and a 7% on the house lettings front when contrasted to the same period last year. The resilience in the residential house market continues.
A strong labour market and medium term likelihood of falling mortgage rates are supporting good buyer activity levels and house sellers are becoming more realistic on price if they are serious about moving home, hence we have a more balanced market with buyers and sellers more aligned on where they see pricing.
If you are thinking of a house sale, contact our nearest branch and arrange a free no obligation valuation.
