Are things slowing down in the property market?

Rightmove’s September House Price Index was published this morning, and after month upon month of record breaking sales and rising house prices, the latest figures show things might be due to change.

While August was record breaking, it only beat July’s property price average by 0.3%… that’s £15. That means prices seem to be stabilising, and what has been a fierce battle for homes might soon start to mellow out a little. 

While September saw buyer demand per property hit more than double pre-pandemic levels, the signs currently all point to a better-balanced autumn market with more homes coming to market, which means more choice available for buyers. 

Tim Bannister, Rightmove’s Director of Property Data said: “[The] 14% increase in the number of new sellers coming to market in the first half of September is only an early snapshot, but autumn is traditionally a busy period, as those owners who have hesitated thus far during the year see the few months before Christmas as an opportunity to belatedly get their moving plans underway. The frenetic pace of this year’s market may also have put some potential movers off, but there are signs of a return of some normality. It’s still a strong sellers’ market in most of the country, so those looking to purchase need to do all in their power to maximise their appeal to sellers, who will often have several offers, and will usually choose the one that gives them the best chance of a quick sale. Agents are reporting that the most successful buyers are using tactics such as ‘sell before you buy’ to increase their buying power in this competitive market. Estate agents know the best methods for movers to secure their ideal properties, so it’s well worth discussing your options with them.”

So if you've been nervous about selling your home during these unprecedented times, instead choosing to avoid the ultra-competitivemarket we've been seen over the past year, now really  might be the right time for you to sell.

If you have a property to sell we (and our buyers!) would love to hear from you. Get in touch to arrange your no obligation property appraisal, or take a look at our free instant online valuation tool for an idea of what your property might be worth. On the other hand if you're looking to buy please make sure you register your interest early, plus keep an eye on our Facebook and Instagram stories for sneak peeks of the properties we have coming to market soon!


Source: Rightmove

Posted on: 20 September 2021