Ryan MacLachlan, Valuer and Negotiator at Alasdair Morrison & Partners in Newark reviews the Newark Property Market in January 2022.
He comments: “Supply and lack of property stock still remains the team’s biggest frustration at the minute. We have qualified buyers registered with us who are ready to proceed on the right property but those properties are currently not on the market.
“As sellers in and around Newark currently seem to be few and far between, consequently valuations have also been quiet since returning in the New Year. However, the property that we do have on the market is still selling extremely well and we are achieving very high prices for our vendors. When we complete our outstanding sales this month, we will have achieved at least 100% of the asking price across those properties.
However, Ryan offers a word of caution to potential sellers with regards to the above: “In our experience, properties that sell near, at, or above asking price have been professionally valued by our local property experts and have been keenly priced to attract the interest of potential buyers.
“In a strong market like this, sellers can sometimes think they see an opportunity to over-ambitious with their price expectations and insist on unrealistic asking prices. At Alasdair Morrison & Partners you can be assured that the asking price recommendations made by our property experts will always be based on their extensive local knowledge, balanced against an optimistic but realistic view of what could be achieved.”
Ryan notes that due to the lack of property on the market at present, a lot of viewers that they meet are actually waiting to find their next property before putting their own property on to the market.
He says: “In a fast moving market where a regular supply of property is crucial, this approach is rather counterintuitive. If you are committed to selling, then we strongly encourage people to get their property up for sale first, so that they have a strong buying advantage and are in a position to act quickly when their dream home is found.
“As your estate agent, if properties sell quickly then we are able to manage the buyer’s expectations during the sale to help mitigate the costs of both parties if the vendors are still searching for their next property.
Ryan finishes: “We still find some sellers are holding back their property for the ‘Spring Rush’. In the past, the lead up to Easter was a very busy period for property sales but we are now finding that the internet has levelled out these peaks and troughs. This is good news for sellers as the property market is more evenly balanced across the year. As such, right now there is a huge opportunity for sellers to maximise the value of their property in front of keen and interested buyers while the supply of property is limited.”
Call us now on 01636 700888 to arrange a no-obligation, free market appraisal and let’s get you moving in 2022.
