Despite the average price of UK property coming to market hitting another new record high for the fifth consecutive month (a rise of 0.3%, +£1,113) to £368,614, Chris Pick, Business Development Manager and Valuer is now starting to see a peak in the price growth.
He notes that throughout the last month, Alasdair Morrison & Partners have seen a steady trickle of new instructions coming on to the market, giving buyers much more choice. This experience is matched by the Rightmove June 2022 House Price Index which states that properties coming to the market are up 7% compared to the same time last year.
However, with more choice available to them, buyers are now taking longer to make a decision on the right property for them, which gives the team at Southwell the opportunity to ensure chains remain strong through to completion.
Demand for property in and around Southwell itself remains very strong, says Chris and sellers continue to get ‘Market Ready’. As the market is starting to soften, the offers coming in tend to be slightly lower than asking prices at present, which seems to suggest that we may now be approaching the top of the market.
An average conveyancing log-jam of 150 days means that anyone hoping to sell and move before Christmas really needs to get their property onto the market in the next few weeks to have the best chance of finding a buyer and completing in time to spend Christmas in their new home.
The team at Alasdair Morrison & Partners have their fingers on the local property pulses in Southwell and Newark and are poised to offer a free, no-obligation market appraisal to anyone thinking of selling. Just call 01636 813971 or 01636 700888 to make an appointment. For rental enquiries call 01636 670977.
